They were convicted by the district court of market manipulation after agreeing in advance, in March 2024, on the terms of a deal involving 40,000 shares worth approximately SEK 1.3 million (about $124,000).
According to the Swedish Economic Crime Authority, the agreed trade accounted for almost all trading in the stock that day and affected the share price by more than five percent.
"Fair play and fairness on the stock exchange are crucial for confidence in the stock market," says Jan Leopoldson, a prosecutor at the Swedish Economic Crime Authority, in a press release.
The three were given suspended sentences and fined between 40,000 and 60,000 kronor (about $3,800 to $5,700).
