Swedish Exchange Investigates Possible Insider Trading Around Pirate Bay Sale

0 Comments

Credit: Flickr

Swedish stock exchange officials are investigating whether there may have been insider trading around Global Factory X’s deal to buy Pirate Bay for $7.8 million. “There are reasons to suspect that information was leaked,” a stock market official at the AktieTorget exchange tells Swedish business paper Dagens Industri (via Swedish Factory). Global Factory X’s stock doubled on almost seven times its usual volume last Monday, Wired.com reports, leading AktieTorget to temporarily suspend trading in the stock. The stock jumped even higher Tuesday, when the Pirate Bay deal was announced.

The exchange also says it’s concerned about the legality of Pirate Bay’s business practices.

Comments are closed.