France’s highest appeals court Wednesday upheld a three-year prison sentence for former Société Générale SA trader Jérôme Kerviel but overturned €4.9 billion ($6.83 billion) in civil damages.

The ruling means Mr. Kerviel, whose massive market bets brought the French bank to the verge of collapse in 2008, has exhausted all legal options to avoid a jail term. Read More »