Send News. Want a reply? Read this. More in the FAQ.   News Forum - All Forums - RSS Headlines   RSS Headlines   Twitter   Twitter

Starbreeze Insider Trading Raid and Arrest

A couple of days after the news that Bo Andersson was leaving his position as CEO of Starbreeze amid a reorganization comes word that the Starbreeze offices were raided by Swedish authorities, and as a result one person has been arrested on suspicion of insider trading. Variety has the details on the stock sales that led to the raid:
The offices of Starbreeze, the developers behind poorly-received shooter “Overkill’s The Walking Dead,” were raided Wednesday in Stockholm by the Swedish Economic Crime Authority which is investigating the company for insider trading, according to Dagens Industri.

Swedish Economic Crime Authority spokesperson Niklas Ahlgren confirmed to Variety that the group is investigating Starbreeze for possible insider trading and conducted a raid on the business Wednesday.

The raid occurred Wednesday morning, with authorities arresting one on suspicion of insider trading and seizing a number of items including a computer. DI reports that the Wednesday office raid was one of several conducted by the group as part of the insider trading investigation into Starbreeze.

According to the publication, the outgoing finance manager and outgoing CEO both sold their entire stake in the company in November. Since those sales, the stock price for the company dropped about 80 percent as the company struggles with the lackluster response to “Overkill’s The Walking Dead.”