{"id":4573,"date":"2011-04-07T05:08:23","date_gmt":"2011-04-07T04:08:23","guid":{"rendered":"https:\/\/hub.hslu.ch\/ifz\/?p=4573"},"modified":"2020-05-20T14:51:51","modified_gmt":"2020-05-20T12:51:51","slug":"prof-dr-monika-roth-zum-fall-sonova","status":"publish","type":"post","link":"https:\/\/hub.hslu.ch\/ifz\/2011\/04\/07\/prof-dr-monika-roth-zum-fall-sonova\/","title":{"rendered":"Prof. Dr. Monika Roth zum Fall Sonova"},"content":{"rendered":"<p><a href=\"http:\/\/www.hslu.ch\/hochschule-luzern\/h-ueber-uns\/h-person.htm?id_person=1011537&amp;id_teilschule=25650&amp;row=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-4572\" title=\"Roth Monika\" src=\"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/Roth-Monika.JPG\" alt=\"Roth Monika\" width=\"82\" height=\"119\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.hslu.ch\/hochschule-luzern\/h-ueber-uns\/h-person.htm?id_person=1011537&amp;id_teilschule=25650&amp;row=1\" target=\"_blank\" rel=\"noopener noreferrer\">Prof. Dr. Monika Roth<\/a> auf <a href=\"http:\/\/www.bloomberg.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bloomberg News<\/a> zu den Insidervorw\u00fcrfen gegen Sonova.<\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/sonova_rihs1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4576 aligncenter\" title=\"sonova_rihs\" src=\"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/sonova_rihs1-300x96.jpg\" alt=\"sonova_rihs\" width=\"300\" height=\"96\" srcset=\"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/sonova_rihs1-300x96.jpg 300w, https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/sonova_rihs1.JPG 575w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.sonova.com\/de\/Seiten\/default.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">Sonova Holding AG<\/a>, the world\u2019s biggest hearing-aid maker by sales, said it\u2019s under investigation after Chairman Andy Rihs sold 300,000 shares eight days before the Swiss company cut sales and profit forecasts. Sonova issued the profit warning too late and failed to impose a timely black-out period that would prohibit company insiders from trading shares and options, said Robert Spoerry, who replaced Rihs as chairman yesterday. Chief Executive Officer Valentin Chapero and Oliver Walker, Sonova\u2019s chief financial officer, resigned and Rihs stepped down from his post while remaining on the board, the company said. \u201cWe were late and we are fully prepared to cooperate with the authorities,\u201d Spoerry, 56, said in an interview after a press conference in Zurich. An independent probe commissioned by the board over the last two weeks found no evidence of insider trading, he said. The Sonova investigation by stock exchange authorities and a possible probe by the Zurich Prosecutor\u2019s Office come three months after the Swiss government proposed stricter laws on insider trading and market manipulation, which would apply to a broader group of people. Currently, companies found guilty of delaying profit warnings face a fine of as much as 10 million francs ($10.9 million). <strong>\u201cThere are still people in corporate Switzerland who lack the sensitivity on what is acceptable and what isn\u2019t,\u201d said Monika Roth, an attorney specializing in corporate law in Binningen, Switzerland. \u201cThere are still some shortcomings when\u00a0it comes to insider information and compliance, and it\u2019s good that the prosecutor is looking at this.\u201d<\/strong><\/p>\n<p style=\"text-align: left\"><strong>Swiss Law<\/strong><\/p>\n<p>Swiss law already makes it illegal for company managers, board members and public officials to abuse confidential information for their own financial gain and sets a maximum three-year prison term for the offense. The Zurich Prosecutor\u2019s Office deals with 10 to 12 legal proceedings a year concerning insider trading, said Corinne Bouvard, a spokeswoman. The proposed changes would bring Switzerland into line with European Union laws, the government said in January. A consultation period on the legislation is set to end April 30. Sonova fell 10.90 francs, or 11.7 percent, to 82.40 francs in Zurich trading on March 30, giving it a market value of 5.45 billion francs. It was the stock\u2019s biggest decline since March 16, when it cut the 2011 profit and sales forecasts, sending the shares down 23 percent. Sonova directors and managers sold about 2.4 million shares and warrants between Feb. 1 and the forecast, according to the SIX Swiss Exchange website.\u00a0<\/p>\n<p><strong>Good Faith\u00a0<\/strong><\/p>\n<p>Rihs, 68, sold the 300,000 shares on March 8 at 125.07 francs each, for a total of 37.5 million francs, according to the company and the exchange website. He is the second-largest \u00a0shareholder with a 9.5 percent stake, according to Bloomberg data. The former chairman said he made the trades \u201cin good faith\u201d and has offered to buy back the shares at the original price. He told reporters at the press conference that he would step down as chairman to avoid further damage to the company\u2019s reputation. <strong>\u201cYou have to wonder whether the chairman of the board didn\u2019t know how the business is doing, and if so, how is that possible?\u201d said Roth, the corporate attorney in Binningen.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prof. Dr. Monika Roth auf Bloomberg News zu den Insidervorw\u00fcrfen gegen Sonova. Sonova Holding AG, the world\u2019s biggest hearing-aid maker by sales, said it\u2019s under investigation after Chairman Andy Rihs sold 300,000 shares eight days before the Swiss company cut sales and profit forecasts. Sonova issued the profit warning too late and failed to impose<\/p>\n","protected":false},"author":257,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[560,854975,134],"tags":[],"class_list":["post-4573","post","type-post","status-publish","format-standard","hentry","category-compliance-management","category-ifz-in-den-medien","category-weiterbildung"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Prof. Dr. Monika Roth zum Fall Sonova - IFZ Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/\"},\"author\":{\"name\":\"michelerath\",\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/#\\\/schema\\\/person\\\/882b87e38785a4460c20e49ef3020ea7\"},\"headline\":\"Prof. Dr. Monika Roth zum Fall Sonova\",\"datePublished\":\"2011-04-07T04:08:23+00:00\",\"dateModified\":\"2020-05-20T12:51:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/\"},\"wordCount\":538,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/wp-content\\\/blogs.dir\\\/165\\\/files\\\/sites\\\/6\\\/2011\\\/04\\\/Roth-Monika.JPG\",\"articleSection\":[\"Compliance Management\",\"IFZ in den Medien\",\"Weiterbildung\"],\"inLanguage\":\"de-CH\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/\",\"url\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/\",\"name\":\"Prof. Dr. Monika Roth zum Fall Sonova - IFZ Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/wp-content\\\/blogs.dir\\\/165\\\/files\\\/sites\\\/6\\\/2011\\\/04\\\/Roth-Monika.JPG\",\"datePublished\":\"2011-04-07T04:08:23+00:00\",\"dateModified\":\"2020-05-20T12:51:51+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/#\\\/schema\\\/person\\\/882b87e38785a4460c20e49ef3020ea7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#breadcrumb\"},\"inLanguage\":\"de-CH\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"de-CH\",\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#primaryimage\",\"url\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/wp-content\\\/blogs.dir\\\/165\\\/files\\\/sites\\\/6\\\/2011\\\/04\\\/Roth-Monika.JPG\",\"contentUrl\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/wp-content\\\/blogs.dir\\\/165\\\/files\\\/sites\\\/6\\\/2011\\\/04\\\/Roth-Monika.JPG\",\"width\":\"136\",\"height\":\"199\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/2012\\\/03\\\/27\\\/verwaltungsrate-sollen-querdenken\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Prof. Dr. Monika Roth zum Fall Sonova\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/#website\",\"url\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/\",\"name\":\"IFZ Blog\",\"description\":\"News aus dem Institut f\u00fcr Finanzdienstleistungen Zug IFZ\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"de-CH\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/hub.hslu.ch\\\/ifz\\\/#\\\/schema\\\/person\\\/882b87e38785a4460c20e49ef3020ea7\",\"name\":\"michelerath\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Prof. Dr. Monika Roth zum Fall Sonova - IFZ Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#article","isPartOf":{"@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/"},"author":{"name":"michelerath","@id":"https:\/\/hub.hslu.ch\/ifz\/#\/schema\/person\/882b87e38785a4460c20e49ef3020ea7"},"headline":"Prof. Dr. Monika Roth zum Fall Sonova","datePublished":"2011-04-07T04:08:23+00:00","dateModified":"2020-05-20T12:51:51+00:00","mainEntityOfPage":{"@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/"},"wordCount":538,"commentCount":0,"image":{"@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#primaryimage"},"thumbnailUrl":"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/Roth-Monika.JPG","articleSection":["Compliance Management","IFZ in den Medien","Weiterbildung"],"inLanguage":"de-CH","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/","url":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/","name":"Prof. Dr. Monika Roth zum Fall Sonova - IFZ Blog","isPartOf":{"@id":"https:\/\/hub.hslu.ch\/ifz\/#website"},"primaryImageOfPage":{"@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#primaryimage"},"image":{"@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#primaryimage"},"thumbnailUrl":"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/Roth-Monika.JPG","datePublished":"2011-04-07T04:08:23+00:00","dateModified":"2020-05-20T12:51:51+00:00","author":{"@id":"https:\/\/hub.hslu.ch\/ifz\/#\/schema\/person\/882b87e38785a4460c20e49ef3020ea7"},"breadcrumb":{"@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#breadcrumb"},"inLanguage":"de-CH","potentialAction":[{"@type":"ReadAction","target":["https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/"]}]},{"@type":"ImageObject","inLanguage":"de-CH","@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#primaryimage","url":"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/Roth-Monika.JPG","contentUrl":"https:\/\/hub.hslu.ch\/ifz\/wp-content\/blogs.dir\/165\/files\/sites\/6\/2011\/04\/Roth-Monika.JPG","width":"136","height":"199"},{"@type":"BreadcrumbList","@id":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/hub.hslu.ch\/ifz\/2012\/03\/27\/verwaltungsrate-sollen-querdenken\/"},{"@type":"ListItem","position":2,"name":"Prof. Dr. Monika Roth zum Fall Sonova"}]},{"@type":"WebSite","@id":"https:\/\/hub.hslu.ch\/ifz\/#website","url":"https:\/\/hub.hslu.ch\/ifz\/","name":"IFZ Blog","description":"News aus dem Institut f\u00fcr Finanzdienstleistungen Zug IFZ","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/hub.hslu.ch\/ifz\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"de-CH"},{"@type":"Person","@id":"https:\/\/hub.hslu.ch\/ifz\/#\/schema\/person\/882b87e38785a4460c20e49ef3020ea7","name":"michelerath"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"michelerath","author_link":"https:\/\/hub.hslu.ch\/ifz\/author\/michelerath\/"},"_links":{"self":[{"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/posts\/4573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/users\/257"}],"replies":[{"embeddable":true,"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/comments?post=4573"}],"version-history":[{"count":1,"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/posts\/4573\/revisions"}],"predecessor-version":[{"id":18351,"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/posts\/4573\/revisions\/18351"}],"wp:attachment":[{"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/media?parent=4573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/categories?post=4573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hub.hslu.ch\/ifz\/wp-json\/wp\/v2\/tags?post=4573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}