AMF France v. AMA Corporation PLC (false or misleading information, 2025)
Settled
Checked against the primary document on October 5, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the French decision; an independent second reading of 60 of the AMF records agreed on every field for 54 and on the core fields for 59. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.
In November 2025 the AMF agreed a settlement with AMA Corporation PLC over a 30 July 2021 press release allegedly painting a one-sided picture of its half-year, and a late disclosure of a missed revenue target; it agreed to pay EUR 300,000.
The record
| Agency | AMF (France) |
|---|---|
| Date filed | 2025-11-13 |
| Date resolved | 2025-11-13 |
| Court | Commission des sanctions (AMF, France) |
| Status | settled |
| Asset class | equities |
| Instruments | Shares of AMA Corporation PLC |
| Venue | Euronext Growth Paris |
| Criminal parallel | No |
| Defendants | AMA Corporation PLC |
| Techniques | Misleading issuer disclosure |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
- Penalty as published
- €300k
What is alleged to have happened
The AMF published an administrative settlement (accord de composition administrative) with AMA Corporation PLC, dated 13 November 2025. This is not a contested sanctions hearing. The agreement took effect only once the AMF Collège validated it and the Commission des sanctions homologated it; the document gives the signing date but not the homologation date, so the signing date is used here.
AMA, a UK company supplying remote-collaboration software, listed on Euronext Growth Paris on 2 July 2021. The AMF opened an investigation in February 2022 into its financial communication.
The first grievance concerned the 30 July 2021 release, which stressed 131% half-year revenue growth and restated a target of more than EUR 15 million for 2021. The AMF said it omitted the order book, the other main indicator: by mid-year AMA had booked only 19% of the orders it needed, against an average of 46% in previous years, and order growth had slowed from +137% to +12%. The second grievance was that the missed target, inside information by 4 October 2021, was published only on 29 October.
AMA agreed to pay EUR 300,000 in four instalments within a year of homologation. A settlement with its chief executive is recorded separately.
What the record does not show: the agreement describes conduct that the person "could" or "would" have committed, so it records allegations and undertakings, not a finding of breach, and it is not styled as a fine. It does not show whether any later challenge occurred.
This library tags the matter as misleading issuer disclosure. The tagging is ours, not the regulator's.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the decision.
What technique is this, and how does it work?
This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.
- Misleading issuer disclosure — see how it works, what statute it engages, and every other action tagged the same way.
Timeline
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.
Related actions
Other actions in the library sharing at least one technique tag with this one.