Press Release: Judgment in Case C-628/13. Jean-Bernard Lafonta v Autorité des marchés financiers

In order to prevent insider dealing, information must be made public even if the holder of the information does not know how precisely it will influence the price of financial instruments.

Otherwise, the holder of the information could cite uncertainty as a pretext for not making the information public, in order to profit from it to the detriment of the other actors on the market.