Argentine Court acquits Tenaris’s CEO and Chairman in the Notebooks Case
On August 17, 2021, Tenaris S.A.
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Rhea-AI Summary
On August 17, 2021, Tenaris S.A. (NYSE: TS) announced that its Chairman and CEO, Paolo Rocca, was acquitted of all charges in the Notebooks Case. The judge affirmed that Mr. Rocca's involvement does not tarnish his reputation. This decision was not appealed by the prosecutor or the prosecuting unit, ensuring the company's leadership remains stable. Tenaris is a prominent global provider of steel tubes and services for the energy sector and industrial applications, highlighting its critical role in the market.
Positive
- Paolo Rocca acquitted, maintaining leadership stability.
- No appeal from prosecutor, reinforcing company integrity.
Negative
- None.
Details
News Market Reaction – TS
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LUXEMBOURG, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and MTA Italy: TEN) has been informed that the first-instance judge in charge of the Notebooks Case acquitted Tenaris’s Chairman and CEO Paolo Rocca of all charges brought against him in the case. In its decision, the first-instance judge stated that Mr. Rocca’s involvement in the Notebooks Case’s judicial proceedings does not affect his good name and honor in any way. The first-instance judge’s decision concerning Mr. Rocca was not appealed by either the prosecutor or the government unit prosecuting economic crimes (UIF).
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
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