Stockholm-listed gaming operator Cherry is searching for new board members following the resignation of two directors implicated in the insider trading case of former chief executive Anders Holmgren.
The two directors, Anna Bergius and Claes Ruthberg, tendered their resignations Friday after receiving notice from Sweden's Economic Crime Authority that they were suspected of committing a crime in connection with the investigation into Holmgren.
Bergius and Ruthberg said that their decision to resign is in the best interests of the company.
Their departure with immediate effect reduces the size of Cherry's board of directors to four, with chairman Morten Klein now engaging with the company's nominations committee to initiate the search for additional board members.
The news sent shares in Cherry AB (STO:CHER-B) down to SEK57.80 per share on Friday, although they have since climbed 4.1 per cent to trade at SEK60.20 per share in Stockholm early Wednesday morning.