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Starbreeze Offices Raided by Swedish Authorities

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  • Starbreeze Offices Raided by Swedish Authorities

    Starbreeze logo
    Starbreeze, the studio behind Overkill's The Walking Dead and The Darkness had their offices raided on Wednesday in Stockholm. The Swedish Economic Crime Authority carried out the raid as part of their investigation into the company for insider trading.

    According to Variety (via Dagens Industri), the raid was conducted on Wednesday morning. One person at the studio was arrested on suspicion of insider trading. In addition to the arrest, a "number of items" including a computer were seized by the authorities.

    What prompted the authorities to look into Starbreeze to begin with? It seems as though both the outgoing finance manager and outgoing CEO sold their entire stake in the company back in November. Since those sales took place, the stock price for Starbreeze dropped roughly 80%. Much of that seems to be the result of Overkill's The Walking Dead performing poorly with both consumers and critics. Selling all of the stock you have of your own company right before it drops 80%? Yep, that'll get you noticed on more than a few radars.

    This raid took place just a few days after Starbreeze filed for reconstruction. It's not quite filing for bankruptcy, but it's also really, really not good. The studio is rapidly losing money and if things don't turn around, they might shut down for good.
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