PARIS Feb 17 Robert Day, the American
billionaire who sold large volumes of Societe Generale (SOGN.PA)
shares shortly before it revealed a rogue trading scandal two
years ago, has quit the French bank's board of directors.
Day, who founded asset management company TCW and then sold
it to SocGen, is the subject of a class-action lawsuit in the
U.S. over alleged insider trading of the SocGen shares.
In January 2008, SocGen unveiled 4.9 billion euros ($6.69
billion) of losses which it said were caused by junior trader
Jerome Kerviel's unauthorised deals.
Day is also being investigated by French financial markets
watchdog the AMF. Day has denied any wrongdoing.
"We confirm his resignation, effective 31 December (2009),"
said the spokeswoman, confirming an earlier report in French
newspaper Les Echos. She said Day had left the group "for
(Reporting by Julien Ponthus; Writing by Helen Massy-Beresford,
editing by Will Waterman)