The Finnish Supreme Court has rendered judgement in the largest Finnish securities markets violation case yet. Finnish software systems company TJ Group Plc and its management was found guilty of aggravated misuse of inside information and breach of disclosure duties.
The former chairman of the board and the managing director were both sentenced to two years and four months in prison and ordered to forfeit EUR 7.8 million each to the state. The company was further sentenced to pay a corporate fine of some EUR 100,000. The Supreme Court considerably tightened the earlier sentence of the Court of Appeal.