El Alliance Airlines Ltd. (TASE: ELAL) announced the Tel Aviv Stock Exchange (TASE) that ISA investigators searched its offices yesterday. Investigators searched El Al's offices for a suspected insider trading investigation.
El Al added that several executives are currently being questioned by ISA in this regard. The police will decide whether to extend the arrest or release them under restrictive conditions.
Sources inform the "globes" that although the ISA raid occurred yesterday morning, he did not report the investor question until two hours after TASE was closed yesterday evening. In the course of yesterday's trading, El Al's share price rose by 7% due to a sharp drop in yesterday's oil prices on world markets.
El Al refused to comment beyond the short notice to TASE.
Published by Globes [online], Israeli Business News – en.globes.co.il – on November 15, 2018
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