Morrisons insider trader in court in Harrogate

tis. Harrogate Magistrates Court. 311208ARpic14.
tis. Harrogate Magistrates Court. 311208ARpic14.

A senior executive with supermarket chain Morrisons has appeared in court accused of insider trading while the company negotiated with Ocado for it to make deliveries on its behalf.

Paul Gerrard Coyle, 50, treasurer and head of tax with Morrisons faced two charges at Harrogate Magistrates’ Court last Thursday.

These both surrounded an alleged £79,431.70 profit made in the buying and selling of the company’s shares.

The charges claim Coyle, of Warwick Crescent in Harrogate, dealt in securities at the London Stock Exchange on a regulated market while having extra information as an insider.

The charges allege the insider dealing took place between February 12 and March 15 last year and between March 22 and May 17 last year.

Coyle told court chairman Philip Burns he did not want to enter a plea to either charge and Mr Burns ruled the case was too serious to remain in magistrates’ jurisdiction. Coyle was bailed unconditionally for trial at York Crown Court where he will make an initial appearance on November 24.