Sweden’s financial authorities are investigating how fraudsters issued a forged press release that sent the shares of a Swedish biometrics company soaring by 51 per cent claiming it had been acquired by Samsung Electronics for $650m.
Fingerprint Cards, which develops makes which develops biometric technology that can be used to unlock mobile devices, The announcement was quickly denied by both Regulators have been asked to investigate the statement, issued on Friday under the name of the smaller company, as a possible case of share price manipulation.
Shares in Fingerprint Cardssurged from SEK52.78 to SEK79.25 – giving a market capitalisation of $619m – before trading was suspended.
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