August 10, 2011 / 6:06 PM / 8 years ago

SocGen asks regulator to investigate rumours hitting shares

PARIS (Reuters) - Societe Generale (SOGN.PA) said it asked France’s stock market regulator AMF to open an investigation into the source of rumours about its financial solidity that sent its shares plummeting on Wednesday.

“Societe Generale contacted the AMF to request that it open an inquiry into the origin of these rumours that did grave damage to its shareholders’ interests,” said the bank in a press release.

Rumours about a downgrade of French sovereign debt, about an expanded Greek bailout for European banks and a possible government bailout of Societe Generale due to liquidity problems were all denied by the bank.

But the market jitters pulled shares of France’s second-largest bank down to close 15 percent lower in the heaviest volume since the 2008 financial crisis.

Editing by Geert De Clercq

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