The Australian Securities & Investments Commission (ASIC) has reported that Antonio Stella has been indicted on two counts of insider trading following an ASIC investigation, relating to trading in Cann Group Limited shares ahead of an upcoming share placement. ASIC alleges Mr Stella sold 2,561,286 Cann Group shares on 19 and 20 July 2021 at an average price of $0.373 per share while in possession of inside information about the placement, then reacquired 2,090,909 shares through the placement at $0.275 per share. ASIC calculated this resulted in a profit of AUD 204,490.90 and further loss avoidance of AUD 20,986.34; the Commonwealth Director of Public Prosecutions is prosecuting the matter following ASIC’s referral. The case is next listed for a plea hearing in the County Court of Victoria on 1 October 2025.
Australian Securities & Investments Commission 2025-03-07
Australian Securities & Investments Commission announces insider trading indictment of Antonio Stella linked to Cann Group share placement
The Australian Securities & Investments Commission (ASIC) has indicted Antonio Stella on two counts of insider trading related to Cann Group Limited shares. Stella allegedly sold 2,561,286 shares in July 2021 while possessing inside information about a share placement, then reacquired 2,090,909 shares at a lower price, resulting in a profit of AUD 204,490.90 and loss avoidance of AUD 20,986.34. The Commonwealth Director of Public Prosecutions is prosecuting, with a plea hearing in the County Court of Victoria on 1 October 2025.