Funcom Under Investigation In Norway For Insider Trading
Funcom‘s offices in Skøyen, Norway were raided by Norwegian authorities earlier this week, as that country’s government investigates claims of insider trading at the game developer-publisher.
According to NewsInEnglish.no (via Eurogamer), Funcom was temporarily delisted from the Oslo stock exchange during the raid, when several officers from The National Authority for Investigation and Prosecution of Economic and Environmental Crime (also known as Økokrim) went into Funcom’s offices and confiscated several boxes of documents. The stock has since been relisted.
Not much is known about the raid, as Økokrim has yet to disclose any details, but Funcom released a statement, saying it’s business as usual for the developer.
“Funcom is of course fully cooperating with Økokrim and the company is providing them with all necessary information to make sure the situation can be clarified and resolved as soon as possible.
Production on all Funcom games continues as normal, and the company remains fully committed to games in development as well as the continued operation and updating of existing live games. Yesterday’s events are not expected to have any impact on the company’s continued operation or the development on future releases.”
Eurogamer is reporting that the investigation stems from “false or misleading disclosures made to the market about the development of The Secret World between August 2011 and the game’s launch in July 2012, as well as for two months after.”