OSLO (Reuters) - Norwegian prosecutors will appeal to a higher court against the acquittal of Hexagon (HEXAb.ST) Chief Executive Ola Rollen over insider trading charges, they said on Tuesday.
Rollen, who was cleared of all accusations in an unanimous verdict by an Oslo court on Jan. 10, now faces the prospect of a new trial at a later date.
Prosecutors had asked for an 18-month prison term over Rollen’s 2015 purchase of shares in Norway’s Next Biometrics (NEXT.OL), a company not connected to Hexagon.
One of Sweden’s best known business leaders, Rollen maintained his innocence throughout the trial and continued to run the company he has led since 2000.
Trading on the Stockholm stock exchange had ended ahead of the announcement. Hexagon’s shares, which fell sharply on the initial news of an investigation in October 2016, rose to all-time highs following the acquittal this month.
Reporting by Ole Petter Skonnord; Editing by Terje Solsvik and Mark Potter