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UPDATE 1-Cloetta employees under investigation for insider trading
October 10, 2017 / 2:20 PM / 13 days ago

UPDATE 1-Cloetta employees under investigation for insider trading

(Adds detail, background)

Oct 10 (Reuters) - The Swedish Economic Crime Authority said on Tuesday it had arrested several employees at confectionery firm Cloetta as part of an insider trading investigation.

* Swedish Economic Crime Authority says has arrested Cloetta staffers in unspecified “leading positions”

* Cloetta says certain employees under investigation for share sales

* Co says has been informed that the Swedish Economic Crime Authority has initiated an investigation for insider crime as a result of share sales by certain employees

* Co says investigation relates to share sales which were effected during a period before Cloetta’s profit warning on Sept. 14

* Co says Cloetta will fully cooperate with the Economic Crime Authority in the investigation

* A Cloetta spokesman says he has no information regarding the identity of those arrested, but says they do not include company CEO or CFO

* Cloetta said on September 14 it expected its Q3 operating profit to be SEK 40-50 million lower compared to last year, due mainly to short-term issues

* Co had previously, through the law firm Cederquist, conducted an investigation of the share sales Source text for Eikon: Further company coverage: (Reporting by Helena Soderpalm; editing by Niklas Pollard)

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