The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

Companies News

Fake news about Samsung-buying a Swedish company brought confusion on the Swedish share of rushing

Friday, 11 October 2013
A scandal has occurred in the morning during trading period in the Stockholm Stock Exchange that has brought intense confusion and consternation to the market.

At about 10 o'clock this morning, press release distributing company, Cision is made to believe to have sent out a press release that "Samsung was buying Swedish finger print company for Skr4.2 billion." That information spooked the market made the stock market to jump but it turned out that the information was false.

After several hours of trading stop, and after it was fully understood that the messaging was false, companies, Fingerprint Cards and Precise Biometrics resumed at 13.30, the Stockholm Stock Exchange announced.

When trading reopened, Skr53 per share, which is half a percent higher than Thursday's closing price. Prior to the suspension of trading the stock had spiralled to Skr79.

Cision has made a quick investigation of the events morning’s issues and in press release they write that it was a fraud. They write:

“Cision has made a preliminary investigation of the event this morning where a fraudulent press release was distributed. This investigation shows that the company has followed its procedures and has been subject to a sophisticated fraud. As a consequence, Cision has decided to turn over the case to the police for further investigation of criminal offence.”

Fingerprint cards company deals with identification through fingerprints, a technology that is being adopted by the likes of Apple in its new iPhone.

Stockholm Stock Exchange has since decided to annul all transactions conducted after the announcement.
At the same time competitor Precise Biometrics share was nearly as much, and after that critical voices have been raised Stockholm Stock Exchange decided at noon to annul its deals also.

The fake press release was delivered to Cision from an email address that Fingerprint cards do not normally use. The phone number listed in the message turned out to go to an unregistered prepaid cards.

In a press release, Fingerprint Cards AB writes that it has not been acquired by Samsung. It also add that “the previous press release was not sent by Fingerprint Cards AB”

By Scancomark.com Team

Print Friendly and PDF

Did you spot any error(s) or had any problem with the above article. Please contact us