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Hexagon Shares Slump as CEO Investigated for Insider Trading

  • Stock hit by worst selloff since August 2011 as probe revealed
  • Hexagon chairman says he has ‘complete confidence” in CEO
Updated on

Shares in Hexagon AB sank the most in more than five years after Norwegian authorities said the company’s chief executive officer is being investigated for possible breaches of insider trading rules.

The Stockholm-based company’s stock fell as much as 11 percent, the steepest intraday decline since August 2011, after the Norwegian economic crime authority said it was looking into CEO Ola Rollen’s actions. Lawyers for Rollen described these as personal investments that were unrelated to Hexagon. The technology company, which helps provide measurement solutions for clients including NASA, was trading 8.6 percent lower at 320.60 kronor as of 1:44 p.m. in the Swedish capital.