Nokian Tyres' ex-CEO, board members charged in securities case
2 Nov 2020
Case involves allegations of securities disclosure offences and abuse of insider information
Nokia, Finland – Finnish prosecutors are pressing charges against former Nokian Tyre plc employees, having completed an investigation into suspected securities markets offences concerning the company's 2015-2016 board members, president & CEO and certain other staff members.
The Finnish Financial Supervisory Authority filed a request in May 2017 to investigate whether Nokian had neglected its disclosing obligations to the security markets.
The authority also investigated whether certain employees had abused insider information when dealing in the company’s securities, Nokian announced 29 Oct.
For the suspected disclosure offence, Nokian said, the prosecutor has decided to press charges against six people – including current board members Raimo Lind and Inka Mero – and former president and chief executive at the time, Ari Lehtoranta.
The charges, said the tire maker, will bear no impact on the work of the board.
The prosecutor has also requested a corporate fine of a maximum of €850,000 to be imposed on the company.
For the case of suspected abuse of insider information, the prosecutor has decided to press charges against four people who were employees of Nokian Tyres in 2015.
Nokian said all persons charged deny their involvement in any criminal activity, adding that the company would not comment on the matter.