On 15 March, 2017, the Norwegian economic crime authority (Økokrim) announced its decision to indict Ola Rollén for insider trading in connection to an investment in a Norwegian company. The grounds for the indictment are meritless. The purpose of this webpage is to publish the facts about the case in order to explain his innocence and the fact that the transactions cannot be considered insider trading.
Ola Rollén is now the first investor in Europe – and possibly also in the Western world – to be indicted for insider trading due to ‘abuse’ of a share price increase entirely created by his investments and good name.
Read more about the share movement rationale.
Three independent reasons why Rollén did not commit insider trading:
- The information possessed by Rollén when trading in NEXT did not qualify as inside information.
- Even if it did, it related to Greenbridge’s own intentions and plans and therefore falls under Safe Harbour (i.e. nothing illegal).
- The transactions were under no circumstances motivated by information received from NEXT but rather based on Rollén’s independent analysis. Thus, there was no misuse of information.