Funcom + Market Manipulation = True?

Clonzoo · January 29, 2014

As of yet there is not an English article on this, google translate does a mediocre job at best but it will have do do the trick, I am to lazy to do it myself.

Funcom said in a press release Wednesday at 12:11 that the company is charged with two factors , in conjunction with the Norwegian authorities Wednesday morning conducted a raid at the company's premises .

According to the notice the company charged with violating the Securities Act , including not having taken inside lists of properly .

According to publicly release from Funcom discusses the indictment company gave information to the market about the game " The Secret World" from August 2011 until its release in July 2012 and two months after launch.

The charges for all synnsynlighet taken out before the morning's raid in Funcom's premises when such action is required by law have been taken out charge in advance .

It has not succeeded E24 to get in touch with Funcom's lead after the indictment was announced.

confirms charge

In Economic Crime confirms chief public prosecutor Hans Christian Koss taking it out charges against the company.

- I can confirm that Funcom is charged with violating securities laws - market manipulation and lack of recognition of insider lists, says Koss E24 .

- We are now in a dialogue with the company as quickly as possible and deny or confirm these suspicions , and the company is cooperating with us in this work , says Koss .

First public prosecutor does not want to answer the second question , whether it is people who are charged or if the investigation is a result of requests from the FSA or the Oslo Stock Exchange.

- We can only confirm the information coming from others. Beyond that we will neither confirm nor deny anyone, says Koss .

In the hours after lunch Economic Crime has carried out several pallets of equipment from Funcom's premises . They are still on the spot, barely six hours after the operation began .

All the employees are sent home.

The alarm seed at the Exchange

As early as the summer of 2012 put the Oslo Stock Exchange commenced investigations by the large price movements in Funcom , both prior to and following the launch of 'The Secret World' 3 July 2012.

From a peak of 24 million in April , the price dropped to under 2.50 million in late August, when it became clear that great efforts had flopped .

The consequences were dramatic for the company, which had to cancel over half of the employees.

Simultaneously with the sharp price drop sold the people in Funcom's management from some substantial shareholdings.

It was especially former Funcom CEO Tor Arne Aas , who in the period sold shares for at least 10 million.

- I have sold shares through multiple transactions at different times , said Aas to E24 in 2012.

The audit examined the

Also FSA investigated Funcom in 2012. It confirmed section chief Geir Holen the FSA to E24 in 2012.

- I can confirm that we are doing research about Funcom share, and that we look at transactions and exchange rate developments in recent months , said Holen , who would not say whether they had been in contact with the Norwegian authorities in the former time .

He would not say whether the Authority had done some evidence .