Urban Fagerstedt, chairman of the FPC, believe it is traders who got the police to raid the headquarters. It was a maximum of bad timing for us, he says in an interview with New Technology Insider Hank.
FPC president Johan Carlstrom is under investigation for gross insider abuse. But there are other strange happenings in the company’s history. Since almost a year back, Urban Fagerstedt chairman of the company. For more of Ny Teknik reader is he better known as R & D manager for Huawei in Sweden. Previously, he was head of Ericsson’s development of radio systems.
New Technology got an interview with Urban Fagerstedt on Friday afternoon about the big mess inside.
Explain why Fingerprints have been involved in so many strange events. A former manager who has been convicted of serious insider dealing. A fake press release that you have sold to Samsung, and now the police raid on the headquarters in Gothenburg week.
– We have at repeatedly said that we believe that there has been improper trading in shares. Many point the finger at us, but we do not control the stock trade.
-On Monday – that the day before insideranklagelsen – were very strong offer to sell the market.
But people inside the company may well be involved in influencing equity trading.
I do not think so. The volume of trade is so large that it can not act on any single individual.
It has been about one million shares. There are few individuals who have it.
The business world wrote this week about Tord Wingrens surprising behavior. He bought 10 000 shares seven trading days prior to your press release that Huawei chose your solution to their most advanced mobile.
I can agree that it sounds strange. But we do not see it that way. We had gone out with as much information about the important contract in advance, in conjunction with the second quarter report. So we did not think it was so much more information that was given in the press release.
But there named you the customer – Huawei – for the first time.
Yes, we did. But it was not so many to choose from. And we had announced earlier volumes we assumed that this would mean.
So share went up, but new Information
No, what I mean is that we did not know before what a good reception as Huawei’s product, and hence, our readers, would get at the IFA trade show in Berlin. Huawei’s mobile was named one of the fair’s top products. And it was someone who wrote that our finger print reader is better than Samsung’s and Apple’s. And so much more fun than that, it can not be for us. But we’d get such good reviews we did not know.
So Tord Wingren did not do any mistakes?
lf Tord made a mistake, it was that he did not know that Huawei would launch mobile.
It happened last week. And so this week the police raid.
Yeah, we start to believe that it is not a coincidence that this happens now. After the good reviews of our product at the IFA trade fair and the price increase last veckan.Men we have no evidence for it. But the timing is unfortunate maximum for an IT company in our position. It almost feels as if someone sat with the watch before they called EBM (EBM’s).
-For Johan is this incredibly boring. He’s already been convicted by the public as insider trader.
And you are not hesitant about what he’s done?
I was hesitant enough to move him away. But it was mainly to safeguard those who have shares in the company.
-Samtidigt I would say that it is John’s clear strategy if it’s in the phones as the company’s readers have their big market that has made the company done so well out of its customers. That is his strength.
Johan Carlstrom’ve performed a number of commercial transactions in the stock. That’s a fact.
Yeah, but he asserts emphatically that he followed the rules. But checking it is not so easy. It can be difficult to see exactly when it was informed of various events.
If it is so difficult, it is well best to not act as an insider.
I’m inclined to think that as the law stands today should not trade in its own shares. Obviously, should you buy to show that you believe in the company. But do not shop often.
-Johan should have stayed at a different level in their actions. He had not been suspected of insider dealing.
Have you acted in shares?
No, I bought the shares, but not acted.
What affects this mess your future opportunities? How customers react?
It’s clear that our customers are disturbed that our president is accused of insider trading. But I do not think it affects their choice of technology. So I do not think this is particularly serious for our business. However, it is a giant smacked against our shareholders.
I think that EBM should look at who sold shares in the morning when the police raid was made and bought in the evening. When I looked up at 16 o’clock, so it was just a buying player. I suspect that it or any of the related sold in the morning.
What do you wish you had done differently since you became Chairman of the end of last year?
Nothing of this has happened during my time as Chairman.
Tord Wingrens criticized the trade took place during your period.
-Yes, but he did not have any short-term trading. He has bought an item because he wants it.
Yes, but the question is how much he knew before he bought.
Yes, but as I said before. We do not think we gave so much more information in the press release that was highly price sensitive. That was the good reviews that caused the price surge.
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