Nasdaq Stockholm orders CareDx to pay special fine of SEK 1 million
The Disciplinary Committee of Nasdaq Stockholm has ordered CareDx to pay a special fine of SEK 1,000,000 to Nasdaq for breaches of Nasdaq Stockholm’s takeover rules.Article continues below
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On December 16, 2015, CareDx announced a public offer to shareholders of Allenex. Up until June 8, 2016, the shares in Allenex were traded on Nasdaq Stockholm.
Prior to the announcement of the offer, CareDx undertook to comply with the takeover rules in connection with both the announcement and implementation of the Offer.
Accordingly, CareDx also undertook to adhere to the securities council’s interpretation and application of the takeover rules.
The Disciplinary Committee has found that CareDx has acted in breach of the takeover rules.
The breaches are attributable to irregularities in conjunction with the announcement of the offer and irregularities regarding the necessary financing of and preparations for the offer, which were previously noted by the securities council.
In the event of breaches of the takeover rules, the Disciplinary Committee can order the offerer, in this case CareDx, to pay a special fine.
In light of the serious nature of the beaches as determined by the Disciplinary Committee, it has ruled that CareDx is to pay a special fine of SEK 1,000,000.
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