FPC board member released from custody, steps down on his own initiative
Sweden’s Economic Crime Authority has released Fingerprint Cards (FPC) board member Lars Söderfjell and former CEO Johan Carlstrom from custody after they were arrested on Monday for alleged market abuse in conjunction with the company’s profit warning in December 2016.
The economic crime agency said that its investigation into market abuse would continue.
According to a report by Reuters, a probe was launched on December 12 after the Economic Crime Authority was made aware of large volumes of trades ahead of a profit warning by the Swedish smartphone touch sensor-maker days earlier.
In a statement, the Economic Crime Authority stated: “It is too early to say how the investigation will develop. The suspicion relates to insider trading in one case and unauthorized disclosure of inside information in the other.”
Soderfjell and Carlstrom have denied the allegations.
In related news, FPC announced today that Söderfjell has left the the board on his own initiative.
“Even if I believe that I am innocent, after careful consideration and with the company’s best interest in mind, I have decided to immediately leave Fingerprint Cards’ Board of Directors,” said Lars Söderfjell. “At the same time, I think it’s very sad since Fingerprint Cards is a fine company that I have a close relation to.”
“Lars and I have thoroughly discussed the situation,” added Jan Wäreby, Chairman of the Board at Fingerprint Cards. “Lars cares about what’s best for both the company and the shareholders and he believes it will be difficult to remain as a board member, given the current situation. Hence, he’s decided to leave the Board immediately. The Board will miss his broad expertise and wise opinions.”
“Lars has provided an explanation for the events that I have no reason to question,” concludes Wäreby. “The investigation continues and will now take the time it needs. We will continue to fully cooperate with the Economic Crime Authority. Clearly, we hope that this will be a fast process and that Lars is cleared of all suspicions.”