EM.TV Insider Trading Probe

files/pictures/picture-35.jpgThe Munich state prosecutor, Manfred Wick, has begun a probe into allegations that EM.TV, the German family production and merchandising company, has participated in insider trading and other stock market violations. The investigation will focus on EM.TV CEO Thomas Haffa and his brother, Florian, who recently resigned from company's board. This move comes on the heels of investors filing suit last week against the company after EM.TV cut its year-end profit forecast by 90%.