FRANKFURT, March 15 Credit Suisse's
headquarters in Germany was one of the offices raided by German
authorities last month as part of an investigation into insider
trading, a spokeswoman for the state prosecutor's office in
The German weekly magazine WirtschaftsWoche reported on its
website on Saturday that Credit Suisse's offices were one of the
targets of a raid on about 50 homes and offices by police and
the German securities trading regulator BaFIN on Feb. 25.
In response to a Reuters query, the spokeswoman said on
Saturday that the German headquarters of the Swiss bank was one
of those raided but that the bank itself was not one of the
She declined to say who were the accused and confirmed the
investigation was about insider trading in shares in German
solar maker Roth & Rau, which was acquired by its Swiss
rival Meyer-Burger in 2011. Roth & Rau was advised at
that time by Credit Suisse.
Credit Suisse declined comment. Meyer-Burger was not
immediately available for comment.
WirtschaftsWoche, without citing sources, reported that
authorities were investigating a Credit Suisse employee for
insider trading in connection with the Roth & Rau deal.
The magazine said the employee had been suspended by Credit
Suisse on the day the raid was conducted.
Police said in February they had seized documents, mobile
phones, computers and electronic storage media in Switzerland
and eight German states, with a particular focus on Hesse, home
to Germany's financial capital Frankfurt, during a raid that was
connected to insider trading investigations.
WirtschaftsWoche said just before Meyer-Burger made a 22
euros per share offer to its rival, shares in Roth & Rau rose by
more than 50 percent.