Nasdaq Stockholm’s disciplinary committee imposed a fine on Mips AB of two annual fees, equivalent to an amount of SEK 1.7 million, as a result of the company’s information disclosure procedures in connection with a statement from Mips’ CEO Max Strandwitz in an interview with Dagens Industri in September 2022 regarding the current situation in the bike market.
The disciplinary committee believed that the interview response from Mips, published in Dagens Industri on September 12, 2022, contained insider information and that Mips had breached the rules regarding disclosure of information to the market in article 17 of MAR.
“Mips does not share the disciplinary committee’s view as the interview response did not contain any insider information, but merely constituted comments on the general, and well-known to the market, overall market situation without any specific information regarding the effects for Mips, but will, of course, despite this, pay the fine,” commented Magnus Welander, chairman of the Board Directors of Mips AB.
Photo courtesy Mips AB
