The former CEO of SodaStream and an associate have been indicted on charges of insider trading, according to Hebrew media reports.
Daniel Birnbaum is accused of giving information to Ayala Cohen regarding positive periodic reports before they were published, allowing her to buy shares and make a profit.
SodaStream CEO Daniel Birnbaum dances with employees during a Ramadan iftar breakfast at the Rahat factory on May 27, 2019. (courtesy SodaStream)
In one instance, according to the indictment, Cohen spent most of her liquidity on NIS 150,000 of SodaStream stock, quickly turning it around for a profit of NIS 28,000, after getting a tip from Birnbaum.
The allegations came to light in 2019, shortly after PepsiCo paid $3.2 billion, or $144 a share, for SodaStream, in one of the largest buyouts in Israel’s history.
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