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Fingerprint Cards chair Carlstrom resigns after insider trading conviction

OSLO : Fingerprint Cards' board Chair Johan Carlstrom resigned on Wednesday after being found guilty of illegal insider trading, the company said in a statement.

Carlstrom was sentenced to 18 months in prison for making four illegal trades in the company's shares in 2013 and 2014, a Swedish court ruled earlier.

The verdict will be appealed, Carlstrom's lawyer told Sweden's TT news agency.

The share price of Fingerprint Cards fell by 9 per cent shortly after the verdict was announced, hitting their lowest since 2018, before paring losses to trade down 3.7 per cent at 1100 GMT.

Carlstrom is the company's biggest shareholder with a stake of 7 per cent and controls more than a fifth of the company's votes at shareholder meetings.

Source: Reuters

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