ORPEA Has Filed a Complaint Against the Group’s former Chief executive officer Yves le Masne

Rhea-AI Summary

On 20 December 2022, ORPEA (Euronext Paris: ORP) filed a new legal complaint against Yves Le Masne, former CEO, for alleged misappropriation of company assets and other serious charges. This follows an ongoing investigation initiated in April 2022 into the actions of certain former managers. ORPEA is committed to addressing financial malpractice and will continue its investigations while cooperating with the Public Prosecutor of Nanterre. The company is a major player in elder care, operating in 22 countries with over 255,000 patients annually.

Positive

• None.

Negative

• Legal action against former CEO Yves Le Masne for alleged misappropriation of company assets.
• Ongoing investigations into the actions of former management may indicate deeper financial issues.

PUTEAUX, France--(BUSINESS WIRE)-- Regulatory News:

On 20 December 2022, ORPEA (Paris:ORP) filed a new complaint, this time against Yves Le Masne, for charges likely to represent misappropriation of company assets or funds, breach of trust, complicity, concealment or laundering.

Yves le Masne was appointed Deputy Chief Executive Officer in 2006, then Chief Executive Officer in 2010.
On 30 January 2022, the Board of Directors terminated his duties as Chief Executive Officer.

This complaint comes after an initial complaint against unnamed persons, filed in April 2022 and regularly supplemented by the company, relating to the actions of certain former managers or employees.

ORPEA is conducting further investigations and will work, as the case may be, on additional complaints that may be filed against the parties concerned. Moreover, it will continue to bring any findings of financial malpractice to the attention of the Public Prosecutor of Nanterre.

About ORPEA
ORPEA is a leading global player, expert in the care of all types of frailty. The Group operates in 22 countries and covers three core businesses: care for the elderly (nursing homes, assisted living, home care), post-acute and rehabilitation care and mental health care (specialized clinics). It has more than 72,000 employees and welcomes more than 255,000 patients and residents each year.
https://www.orpea-group.com/
ORPEA is listed on Euronext Paris (ISIN: FR0000184798) and is a member of the SBF 120, STOXX 600 Europe, MSCI Small Cap Europe and CAC Mid 60 indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005485/en/

Press

Isabelle HERRIER NAUFLE

Public Relations Director

Phone: +33 7 70 29 53 74

i.herrier-naufle@orpea.net

Jean Baptiste ROUSSILLE

Director of Investor Relations

Phone: +33 7 88 50 21 60

j-b.roussille@orpea.net

Charlotte LE BARBIER

Image 7

Phone: +33 6 78 37 27 60

clebarbier@image7.fr

Source: ORPEA

FAQ

What charges were filed against Yves Le Masne on December 20, 2022?

Yves Le Masne faces allegations of misappropriation of assets, breach of trust, and other serious charges.

When did ORPEA file its initial complaint regarding financial malpractice?

The initial complaint was filed in April 2022.

What is ORPEA's business focus?

ORPEA specializes in elderly care, rehabilitation, and mental health services, operating across 22 countries.

How many patients and residents does ORPEA serve annually?

ORPEA serves over 255,000 patients and residents each year.