Starbreeze offices raided on insider trading suspicion

Starbreeze's troubles are far from over.

@DeekeTweak
Published Wed, Dec 5 2018 1:30 PM CST   |   Updated Tue, Nov 3 2020 11:50 AM CST

On the heels of financial woes, Starbreeze's HQ gets raided by Sweden's Economic Crime Authority branch on suspicions of insider trading.

Starbreeze offices raided on insider trading suspicion | TweakTown.com

Starbreeze Studios, the parent company to Payday developer Overkill, is facing serious setbacks. Overkill's new Walking Dead game apparently isn't doing well, adding more weight to the company's tumultuous financial situation. Starbreeze is now undergoing reconstruction, a process similar to bankruptcy, to buy time to institute a plan. If that wasn't enough its head offices have now been raided by authorities.

The Swedish Economic Crime Office stormed the studio's offices today and seized computers, documents, and other evidence on suspicions of insider trading. Authorities tell GamesIndustry.biz that a suspect has been arrested, and that the company itself isn't under fire for the charges.

"This morning officials from the Swedish Economic Crime Authority raided the offices of Starbreeze in Stockholm. One person was arrested and items were seized. The raid is part of an ongoing investigation involving suspected insider trading," ECO press admin Niklas Ahlgren told GamesIndustry.biz.

Starbreeze says this move will not affect or interrupt the company's reconstruction plans.

NEWS SOURCE:gamesindustry.biz

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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