Ola Rollén, Hexagon’s President and CEO, has been acquitted from the insider trading allegations by the Norwegian economic crime authority (Økokrim). The Oslo City Court found Rollén not guilty, rejecting all charges of insider trading – a vindication for Rollén who has firmly denied any wrongdoing.
Rollén’s lawyers made one thing very clear from the beginning – the charges were based on a misinterpretation of the factual and legal issues in the matter. Thus, all activities carried out by Rollén were according to normal procedures in the marketplace and not based on any insider information.
Attorney Christian B. Hjort commented on the verdict, stating “We expected an acquittal from the start and are of course satisfied that the charges brought against Ola were dismissed by the Court. However, it remains profoundly disappointing that a proper assessment of the case was not made at an earlier point in time by the relevant Norwegian authorities.”
Gun Nilsson, Hexagon’s Chairman of the Board, 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.”
“I am relieved by the court’s verdict, confirming what I and my lawyers have stated from the beginning; that I did nothing wrong.” said Ola Rollén. “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.”
Below is the press release issued by Ola Rollén’s defense team:
Oslo, 8 January 2018
The Oslo City Court has today acquitted Ola Rollén of Økokrim’s accusations of insider trading. The 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.
Attorneys Christian B. Hjort and Knut Bergo state that Rollén for the entire time has been certain that he was not guilty of insider trading. The decision by the Court confirms that Økokrim’s charges against Rollén were groundless and never should have been brought forward. The case has put considerable strain on Rollén and his family. He hopes that the Court’s verdict now puts an end to Økokrim’s groundless accusations.