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Fingerprint Cards chair Carlstrom resigns after insider trading conviction

Reuters
Updated ·1-min read

OSLO (Reuters) - 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% shortly after the verdict was announced, hitting their lowest since 2018, before paring losses to trade down 3.7% at 1100 GMT.

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

(Reporting by Terje Solsvik, editing by Stine Jacobsen and Jason Neely)