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Kindred Group director Stefan Lundborg quits due to SECA investigation

4th December 2020 9:23 am GMT

Kindred Group has announced the immediate resignation of non-executive director Stefan Lundborg following allegations of insider trading.

The Stockholm-listed online gaming operator said Friday that the resignation is related to Lundborg being investigated for insider crime by the Swedish Economic Crime Authority (SECA).

The company is cooperating with the public prosecutor and the SECA in their investigations, although neither the company nor any of its other directors are suspected of any misconduct.

“The resignation of Stefan Lundborg was unavoidable considering the investigation against him by the Swedish Economic Crime Authority,” said Kindred Group chairman Anders Ström.

“The Board would like to emphasize that no other representatives of the company have been served any suspicion of misconduct and neither is the company itself under any suspicion.”

Shares in Kindred Group plc. (STO:KIND-B) were trading 0.25 per cent lower at SEK72.92 per share in Stockholm early Friday morning.

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