Photo: Björn Larsson Rosvall/TT
the disciplinary committee at Nasdaq Stockholm, sweden judge biometribolaget Fingerprint Cards to the liquidated damages amounting to two annual fees, corresponding to a sum of just over sek 900 000. Fingerprint is considered to have disseminated the information in a way that is not allowed at several occasions during 2015 and 2016. Although the former ceo Johan Carlströms diligent conduct to be in breach of stock exchange rules.
In its press release emphasizes the disciplinary Board events 9 december 2015, when the Fingerprint Cards, published a revenue forecast during stormy circumstances. Expectations were high for the company in the current day would present its forecast for the year 2016. The forecast was leaked two hours before planned, and the share handelsstoppades for more than an hour. When the data was still there, chose the company to release the information itself, earlier than planned. The news service PR Newswire then took on kitty.
– Ultimately, it is always the company that is responsible for its suppliers of information, ” says David Ravenscroft, press officer at the Nasdaq.
the Board also criticises that the Fingerprint talked about the revenue forecast with the media.
– As a listed company, you may not talk to a medium before the information reached the market. For it to be deemed to have reached the market must have gone out wide with a press release, ” says Augustsson.
Three of the previous president and ceo, Carlströms Twitteruttalanden are with in the judgment. Among other things he tweeted in september 2015 that he believed that the company “handled correctly,” could have a higher market capitalization in the year 2020 than Ericsson’s then current market capitalization. In march 2016, he tweeted about how many sensors the company was expected to deliver in 2016.
Carlström shall have received a written warning from the board of directors in connection with their conduct in 2015, it appears in the judgment. A warning that Carlström not followed.
In its press release type the stock exchange’s Disciplinary committee to all the informationsmissar overall shows that the company does not have sufficient procedures and systems for its information disclosure.
Fingerprint Cards ceo Christian Fredriksson writes in a press release that the company looks serious in the criticism.
"I would like to point out that during the past year we have strengthened our title for investerardialog and communication. We will continue to improve our information and communication with the stock market."
Friday’s setback will just days after the former. Last Monday, the board of directors to withdraw its share option scheme after fierce criticism from the owners. The proposed option program would mean 750 000 options to the new ceo, Christian Fredrikson, and 250 000 to the rest of the management to share. To get the advice to buy the options, they would also get an extra bonus that would cover half the cost of the options. The critical owners considered that the application was unjustifiably large.
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