Starbreeze Offices Raided Due To Alleged Insider Trading

Reports are coming in that the offices of Starbreeze, publishers of Overkill’s The Walking Dead, have been raided due to suspected insider trading. According to Swedish television site SVT Nyheter, “several executives in Starbreeze sold a larger number of shares in the company,” just before they announced they were filing for reconstruction.

It is also reported that a member of the Starbreeze staff has been arrested.

That, if you can’t speak Swedish, roughly translates as

The Financial Market Chamber at EBM has today conducted several searches for suspicions of gross insider breach with links to the gaming company Starbreeze. One of the searches has been carried out at Starbreeze office in central Stockholm. A person is detained.

Another site reports the following

In mid-November, Outgoing Finance Manager Sebastian Ahlskog sold his entire stake in Starbreeze for a total of 3.3 million. At about the same time, Outgoing CEO Bo Andersson Klint sold shares for a total of SEK 18.6 million. The transactions were made at stock prices around 4-6.

Since those shares were allegedly sold the price of Starbreeze stock has fallen by nearly 80% so, very roughly, those SEK 18.6m of shares are now worth around SEK 250K.

Source: Twitter /BreakIt.Se / SVT / all via ResetEra

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