Technology content trusted in North America and globally since 1999
8,587 Reviews & Articles | 67,054 News Posts

Starbreeze offices raided on insider trading suspicion

Starbreeze's troubles are far from over

By Derek Strickland on Dec 5, 2018 01:30 pm CST - 1 min, 21 secs reading time

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-insider-trading-suspicion_8588

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.

Derek Strickland

ABOUT THE AUTHOR - Derek Strickland

Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements, whether it's VR with the Oculus Rift or Augmented Reality. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the technology that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

NEWS SOURCE:gamesindustry.biz

Related Tags