Cherry CEO remains in detention

In another brief industry update, Cherry AB has advised that prosecutors have requested the Swedish court detain chief executive officer Anders Holmgren who is suspected of “severe insider trading as a result of share trading”.

Media speculation points towards Holmgren’s acquisition of SEK 12 million Cherry AB shares following a profit warning which was issued in April due to integration delays of its ComeOn subsidiary, however, no formal confirmation has been released.

The detention hearing will be held tomorrow (Thursday).

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