The insider trading case involving Segantii Capital Management, its founder Simon Sadler and former trader Daniel La Rocca has been adjourned by a Hong Kong court until 15 October, according to a report by Reuters.
The decision was made during a hearing on Tuesday.
The Securities and Futures Commission of Hong Kong initiated criminal proceedings against Segantii, Sadler and La Rocca in May, alleging that they engaged in insider trading involving shares of Hong Kong-listed fashion chain Esprit Holdings prior to a block trade in June 2017.
The case was recently transferred from a lower court to a district court, where the maximum prison sentence a judge can impose is seven years.
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