Biometric sensor maker in Samsung fraud
A Swedish biometric sensor manufacturer is the focus of a curious incident involving a Samsung takeover that wasn’t.
Fingerprints AB enjoyed a rapid rise in its stock price for around 20 minutes last week, after a press release regarding a $650 million (€480 million) takeover by the South Korean vendor was issued by news distributor Cision. However, the biometrics sensor manufacturer quickly denied the news, stating it didn’t send the release.
“The news in today’s media that Fingerprint Cards AB has been acquired by Samsung is incorrect,” the company states, adding that trading of its shares are suspended, and that it plans to report the incident to Swedish police and the country’s Financial Supervisory Authority.
Cision also issued a statement, apologizing to Fingerprint AB and its shareholders and clarifying that the press release was “incorrect”.
Magnus Thell, chief executive of Cision’s Swedish operation, later told Bloomberg the company had been duped by an imposter, rather than any attempt to hack its systems.