Starbreeze Offices Raided Over Insider Trading Suspicions
Starbreeze, the company behind Payday and Overkill’s The Walking Dead, had its offices raided by the Swedish Economic Crime Authority over suspicion of insider trading, according to Dagens Industri. The reason behind the raid was officially confirmed by Economic Crime Authority spokesperson Niklas Ahlgren to Variety as being part of an ongoing insider trading investigation. The raid resulted in the arrest of at least one person suspected of insider trading and the seizure of several items, including a computer.
Just days before the raid, Starbreeze filed for reconstruction due to a “shortfall of cash.” This followed the commercial failure of Overkill’s The Walking Dead and was a way to side-step bankruptcy while paying off debts. The reconstruction was meant to sort out finances behind the scenes while allowing business to “continue as usual,” but this raid has thrown a wrench in those plans.
At the same time, Chief Executive Officer Bo Andersson resigned from his position and the Board of Directors. Likewise, Kristofer Arwin also resigned from the board. Both resignations were effective immediately.
To say things are going downhill for Starbreeze would be an understatement. With the longevity of the company called into question, it’s unclear what the fate of its IPs will be.
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