Italian prosecutors open market rigging probe over Carige: source

MILAN (Reuters) – Prosecutors in the Italian city Genoa are investigating possible market manipulation in relation to Banca Carige (CRGI.MI), the lender hit by a boardroom row, a source with direct knowledge of the matter said on Tuesday.

News of the investigation, which does not target any specific person, was first reported by Italian newspapers La Stampa and Il Fatto Quotidiano.

Carige said in a note it had handed over to prosecutors the minutes of all shareholder and board meetings for 2017 and 2018, as well as letters exchanged with the European Central Bank.

“The bank reiterates it is fully cooperating with authorities,” Carige said.

Carige’s chairman, deputy chairman and two board members have resigned in recent weeks in disagreement over Chief Executive Paolo Fiorentino’s management of the bank. The top shareholder asked on Monday to remove Carige’s board.

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