February 28, 2017 / 9:15 AM / in 9 months

Swedish authorities drops investigation against former FPC board member

STOCKHOLM, Feb 28 (Reuters) - The Swedish Economic Crime Authority said on Tuesday it had decided to drop a preliminary investigation regarding a person suspected of leaking information about a profit warning in biometrics firm Fingerprint Cards (FPC) in December.

“I can already now see that the material we have is not enough for an indictment,” prosecutor Olof Kronlund said in a statement.

Fingerprint board member Lars Soderfjell and key shareholder Johan Carlstrom were taken into custody in January for alleged market abuse in conjunction with the profit warning in December 2016. The suspicion in the case of Carlstrom is relating to insider trading. In the case of Soderfjell it was related to unauthorised disclosure of inside information. The Economic Crime Authority said the investigation into insider trading was continuing, but was not likely to be finalised before the summer. Fingerprint said in January that board member Lars Soderfjell, suspected of the unauthorised disclosure of inside information, had stepped down from the company’s board.

Link to statement from Economic Crime Authority (in Swedish): here

Reporting by Johannes Hellstrom; Editing by Daniel Dickson

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