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Finnish watchdog asks police to investigate Nokian Tyres
May 18, 2017 / 11:44 AM / 6 months ago

Finnish watchdog asks police to investigate Nokian Tyres

HELSINKI, May 18 (Reuters) - Finland’s financial watchdog wants the police to investigate tyre maker Nokian Tyres , the National Bureau of Investigations said on Thursday.

The Financial Supervisory Authority has asked the bureau to investigate whether Nokian misused insider information or breached disclosure laws, Inspector Erkki Rossi told Reuters by telephone.

He said the bureau would appoint a person to decide whether to launch the requested investigation.

Last year, Nokian admitted it had supplied special high quality tyres for tests by motoring journalists, leading to stronger test scores that helped garner good publicity.

Finnish daily Helsingin Sanomat later reported that some members of the company’s management team had sold options before it went public about the specially-designed tyres. Shares in the company fell after the news.

Nokian Tyres was not available for immediate comment. (Reporting by Tuomas Forsell; writing by Jussi Rosendahl; editing by Jason Neely)

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