Insider trading probe at major PR firm: Kwan Communications provided Evogene with media and investor relations services.

The three persons are suspected of buying shares in the firm's customers, including Evogene Ltd. (TASE:EVGN), Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR | Quote | Chart | News | PowerRating), and Aladdin Knowledge Systems Ltd. (now delisted). The purchases, totaling hundreds of thousands of shekels, were based on insider information.

The maximum sentence for the crimse is five years in prison.

Kwan Communications' clients also include Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), Commtouch Software Ltd. (Nasdaq: CTCH), ClickSoftware Technologies Ltd. (Nasdaq: CKSW), Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI), and Radvision Ltd. (Nasdaq: RVSN; TASE: RVSN).

Kwan Communications provided Evogene with media, public relations, investor relations, and crisis management services. In August 2008 Evogene announced that Monsanto Inc. (NYSE: MON), the world's largest seed company, had acquired 13.59 percent of the company for $18 million, becoming a party at interest. Half an hour later, Evogene also announced a cooperation agreement with Monsanto, and the transfer of licenses to Monsanto, which would invest an additional $35 million in Evogene in the future. These significant announcements sent Evogene's share soaring 57 percent that day.

The Securities Authority investigation found that two days before the announcements, Rabin purchased, through his wife's account, NIS 387,000 worth of Evogene shares, using insider information about the pending deal with Monsanto.

Rabin's attorney, Adv. Yaron Lipshes said in response, "Zvi Rabin acted in this matter in the same way as he has always acted: solely for the good of his clients. It is also obvious that Rabin did not personally profit in any way. In the past few days, Mr. Rabin has devoted considerable time to this investigation, responding in detail to all the questions posed to him, in order to move the investigation forward as quickly as possible. Mr. Rabin relies on and trusts that, at the end of the investigation, the investigators will also see that he is not guilty."

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