Thursday, November 17, 2016

Ola Rollén is being further investigated by the public prosecutor – Today’s Industry

Ola Rolléns explanations of the suspected insiderhandeln has so far not been convinced by the Norwegian prosecutor. The investigation against the Hexagon’s ceo continues, "with full strength".

"It’s the same suspicions as when he was released," says Marianne Bender.

It has been two weeks ago, Hexagon’s ceo, Ola Rollén was released in Oslo, after having been detained for ten days, suspected of insider dealing.

since Then, Ola Rollén, inter alia, in an exclusive interview in Di given its declaration to the acquisition of the shares in Next Biometrics – just before Rollén participated in the issue that got the share price in the Norwegian biometribolaget to rush.

Ola Rolléns version is that the discussion of the upcoming issue have been in such an early stage that it did not constitute inside information.

the Responsible public prosecutor at the Norwegian serious fraud office, economic crimes agency, Marianne Bender.

Remains the suspicions against Ola Rollén?
"It’s the same suspicions as when he was released."

the Next and Ola Rollén signed an agreement not to disclose any of the ongoing discussions, a so-called non disclosure agreement, the NDA, in september – before the Ola Rolléns purchase of shares.

the Di says Ola Rollén to an NDA agreement is standard in a situation like this where the idea is that no inside information shall be disclosed, since otherwise it may prevent a future deal. But the NDA agreement is also a practical procedure for the discussions not be made public for third parties.

On the question whether there should not have prevented the Ola Rollén from buying will be the answer to "the NDA has nothing to with insiderproblematik to do."

In Norwegian: deutsche bank trust as economic crimes agency refers to defined inside information, inter alia, as "information that a reasonable investor likely to use as part of the basis of his investment decisions".

this is a central issue in the Økokrims investigation.

How much can you know about an upcoming deal, but that it is seen as insider information?
"What I can say is that he is suspected and that the district court supports us in that there is a reasonable basis for suspecting him of illegal insider trading", says Marianne Bender.

She also allows to understand that an answer whether Ola Rollén will be prosecuted, or the investigation to be shut down is not imminent.

What is a reasonable investigation after the completion of pre-trial detention?
"It is impossible to say. It is too early in the investigation to say anything about when we can be considered to be finished with the investigation."

How goes the investigation?
"It continues with full strength," said Marianne Bender.

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