French Grocer Casino, Ex-CEO Face Market Abuse Trial in Paris

French grocery chain Casino Guichard Perrachon SA and former Chief Executive Officer Jean-Charles Naouriface a Paris criminal trial for allegedly trying to manipulate the company’s stock in 2018-2019.

The trial — set for October — is a further sign of the fall from grace of the 75-year-old Naouri, who first acquired a large Casino stake in the 1990s before later becoming its controlling shareholder.

The case may also be a nuisance for the group of investors led by Czech billionaire Daniel Kretinsky who took over the retailer in 2024 under a restructuring plan that forced large losses on creditors. ...