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Mazor Robotics CEO under investigation for insider trading: 3 things to know Featured

By  Mackenzie Garrity | Monday, 04 December 2017 18:26
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Mazor Robotics CEO Ori Hadomi is under investigation by the Israel Securities Authority following its latest agreement with Medtronic, according Calcalist.

Here are three things to know:

 

1. In May 2016, Mazor Robotics signed a strategic agreement with Medtronic, which allows Medtronic to distribute Mazor's spine systems in the U.S. This past September, the two signed an agreement for Medtronic to assume worldwide distribution of the systems and invest $40 million in Mazor, bringing the total

investment to $74 million.

 

2. Since the partnership, Mazor's stocks have risen 130 percent. This led the Israel Securities Authorities to raid senior executives' offices after learning information regarding the deal was leaked before the public announcement.

 

3. Mr. Hadomi is among the executives being investigated for insider training. The Israel Securities Authorities raided the CEO's home in May. Mazor Robotics has not commented about the investigation, claming the company does not comment out of the scope of its official report.

 

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