Marconi goes unpunished despite withholding information

14 Apr 2003

A report by the Financial Services Authority (FSA) released on Friday has found that collapsed UK-based equipment manufacturer Marconi withheld crucial information from shareholders. The long-awaited report concentrates upon the circumstances surrounding the delayed release of a trading statement in July 2001, which led to the temporary suspension of Marconi shares. However, the FSA found no evidence of ‘bad faith’ on the part of Marconi’s directors and will not be taking any further action against the company.