Newsflash: Ola Rollén, Hexagon CEO, acquitted on insider trading
It just came across the newswires: Hexagon’s Ola Rollén was acquitted today on the insider trading charges put by the Norwegian economic crime authority. After a trial in November, the Oslo City Court found Mr. Rollén not guilty. Mr. Rollén’s attorneys released a statement that says, “[t[he Court concluded that Rollén did not have inside information when he, in October 2015 and on behalf of the investment company Greenbridge, purchased shares in the Norwegian listed company Next”. Hexagon says this finding is “a vindication for Rollén who has firmly denied any wrongdoing.
You might recall a complicated who-knew-what-when-and-was-it-illegal from last year (summarized here) that Mr. Rollén’s lawyers maintained was based on a misinterpretation of the actions takes and the law. Hexagon’s Chairman of the Board, Gun Nilsson, said “We applied the most fundamental of principles in handling this difficult situation – innocent until proven guilty by a court of law. In hindsight, this has proven to be the right strategy for Hexagon and its shareholders.”
For his part, Mr. Rollén said, “I am relieved by the court’s verdict, confirming what I and my lawyers have stated from the beginning; that I did nothing wrong. I am truly grateful to our shareholders and employees for the support expressed to me during this tough period. It’s humbling to work for a company that’s able to handle adversity with such grace and poise. I remain committed to serving as CEO for Hexagon for as long as the Board and shareholders will allow.”