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Starbreeze offices raided because of insider crime

Jay Shadow

Jay Shadow

Member
Oct 28, 2017
2,608
Wing Scarab said:
Can someone explain to me why insider trading is illegal? And does it only affect public companies.
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Yeah, it's specifically for public companies. You can't profit off of information that the public shareholders don't have. Like maybe selling off your stock before information about your company's financial issues are made public which will likely lower the stock value. All stockholders in a public company have to be on as equal footing as possible.
 
Wing Scarab

Wing Scarab

Banned
Nov 1, 2017
1,757
Jay Shadow said:
Yeah, it's specifically for public companies. You can't profit off of information that the public shareholders don't have. Like maybe selling off your stock before information about your company's financial issues are made public which will likely lower the stock value. All stockholders in a public company have to be on as equal footing as possible.
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Thanks for the explanation.
 
Fart Master

Fart Master

Prophet of Truth
The Fallen
Oct 28, 2017
10,328
A dumpster
LossAversion said:
Man, this is so sad.

Starbreeze made some excellent games over the years. I guess they sort of shifted into a publishing role over the past few years? And now this...
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Starbreeze from 2005 is not really the same developer today since almost all the core staff left to form machine games. Honestly doesn't surprise considering shitty they've always acted that they would also commit fucking inside trading like dummies.
 
DarkDetective

DarkDetective

Banned
Oct 25, 2017
4,906
The Netherlands
Minamu said:
They're under suspicion of insider trading, that doesn't make it fact.
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The company is not; their former CEO and CFO are. Oh, and btw, the allegation:
berzeli said:
edit: Oh, allegedly they delayed information about profit warnings and change of CEO on November 15th, same day that the CEO + other dude sold their stocks. Could you at least try and be competent with either running a game studio or committing crimes? I'm not asking for much here, just show some basic competency in one area of your professional life.
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If this is true (and this can be traced back in order books), they're fucked.
 
Pyro

Pyro

God help us the mods are making weekend threads
Member
Jul 30, 2018
14,505
United States
Wowzers. Hopefully this doesn't affect Psychonauts 2, but this company's woes seem to not stop...
 
Minamu

Minamu

Member
Nov 18, 2017
1,900
Sweden
I don't have a link but whoever the police detained was released a few days ago. The suspicion isn't entirely gone but they are free to go about their business and aren't banned from travelling abroad.
 
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