Funcom suspended from Oslo Stock Exchange in early hours of trading

Funcom suspended from Oslo Stock Exchange in early hours of trading
Craig Chapple

By Craig Chapple

January 29th 2014 at 11:42AM

Trading halt lifted as of 12:30pm local time following police investigation

Secret World developer Funcom was suspended from the Oslo Stock Exchange at 9am today.

The troubled company was charged with "suspicion of infringement of the provisions of the Securities Trading Act with regards to the financial information given to the market regarding The Secret World from August 2011 until the launch of the game in July 2012 and the two months following the launch".

The developer has also been accused of not maintaing the required log information of its business during that period on the stock exchange.

Funcom is said to be fully cooperating with Okokrim, the country's financial investigation unit.

A spokesperson for the Oslo Stock Exchange told Develop that police had visited the company this morning after it was suspended from the Stock Exchange.

As of 12:30 local time however, the company has resumed trading.

Develop has reached out to Funcom for more details on the matter.

Last year the MMO developer laid off a number of employees, including around half of its Oslo studio, as part of company-wide restructuring efforts following the disappointing release of subscription-based title The Secret World, which later went free-to-play. The company also shut down its Beijing office.