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UPDATE: Secret World developer Funcom charged on suspicions of trading infringement – report

Wednesday, 29th January 2014 11:49 GMT By Dave Cook

The Secret World developer Funcom has been reportedly taken off the Norweigan stock exchange, and has allegedly been visited by members of ‘Økokrim,’ the country’s financial investigation unit.

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UPDATE: NewsWeb reports that Økokrim has charged Funcom over suspicions that it infringed provisions of the Securities Trading Act.

The charges relate to information released to the market regarding its MMO The Secret World between August 2011 and July 2012.

It is believed that Funcom neglected to keep a log of company information during this period. The studio is believed to be fully cooperating with Økokrim in resolving the matter.

ORIGINAL STORY: It comes from this E24 report.

The report makes mention of Funcom’s volatile stock, and the fact that it has not made any stock exchange messages since its Q3 financial report, which revealed a downturn in revenue from 10.9 million to 5.3 million.

Funcom is expected to announced much lower Q4 financials, and as of Tuesday its stock sat at $5.33.

We’re currently seeking comment from Funcom and EA. Stay tuned.

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3 Comments

  1. KineticCalvaria

    Doesn’t sound very promising, it’s a shame really TSW has so much potential, the gameplay is fantastic but it’s still as buggy as I’d expect a beta to be.

    #1 6 months ago
  2. XDamage

    This can potentially REALLY suck for the investors…

    #2 6 months ago
  3. SplatteredHouse

    They’ve been charged now?! I read that staff were sent home from their offices (auto-translated) but, has there been any statement issued by Funcom about the allegations, beyond “talk to the onokrim”?

    #3 6 months ago

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