Sweden 'investigating' insider trading claims

29 June 2009

A member of the board of Swedish firm Studsvik is being investigated over allegations of insider trading and may face prosecution.

The company revealed that a prosecutor for the Swedish National Economic Crimes Bureau has applied to start proceedings against Jan Barchan, who will not participate in the work of its executive until the case has been processed.

Mr Barchan may face charges relating to a 2006 transaction, which the prosecutor claims was made while he knew of an order that was later announced in a press release in August of that year.

However, the company insists that the board member believes that he did not contravene legislation and the transaction was reported to Finansinspektionen (the Swedish Financial Supervisory Authority) "within the prescribed period".

With 60 years of experience in the nuclear technology and radiological services sector, Studsvik provides a range of technical services to companies around the world and has around 1,100 employees in eight countries.

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