The Supreme Court (KKO) has handed down a suspended sentence to Juhani Hintikka, the former CEO of Comptel, for gross misuse of insider information. The case stems from stock transactions that Hintikka made in 2014, where he purchased Comptel shares just before the company announced a significant contract with Telenor Norway. This led to a substantial increase in Comptel’s share price.
Despite multiple court rulings over the years, the Supreme Court ultimately found Hintikka guilty of aggravated misuse of insider information. In response, Hintikka was sentenced to a four-month suspended prison sentence and ordered to forfeit 36,900 euros to the state. The case has been closely monitored by the financial community and has raised questions about the use of insider information in stock trading.
WithSecure, the company that Hintikka currently leads as CEO, has acknowledged the Supreme Court’s verdict and stated that the board of directors will make necessary decisions promptly. The case underscores the importance of transparency and ethical behavior in financial markets in order to maintain investor confidence and trust in the system.
