From Yahoo Finance: 2025-04-10 03:53:00

STMicroelectronics’ board denies insider trading allegations involving two managing board members, reassuring the Italian government of its commitment to investments. Italy’s Economy Minister accuses management of selling shares before reporting negative results. French industry minister expresses support for CEO Chery. The company defends stock sales during blackout period as automatic. STMicro confirms investments in Italy on track, plans to double production capacity at Agrate site by 2027. The group is open to talks with Italian trade unions to avoid job cuts. The Italian and French governments own a combined 27.5% share in the chipmaker. STMicro, like other European chipmakers, faces challenges in automotive and industrial markets, postponing 2025 targets. The company confirms workforce reduction of 2,800 globally. STMicro also faces a class action lawsuit in the US, claiming it deceived investors. The company asserts it has a “good defence” against the lawsuit.

Read more: Chipmaker STMicro denies Italian minister’s allegations of insider trading