clock menu more-arrow no yes mobile

Filed under:

The Secret World dev delisted in Norway, company under investigation (update)

The Secret World developer Funcom was delisted from the Norwegian stock exchange earlier today and is now under government investigation for negligent bookkeeping, according to statements published by the Oslo Stock Exchange.

The documents state Funcom is charged with infringement of the Securities Trading Act between Aug. 2011 and July 2012 for allegedly shared false financial information pertaining to The Secret World with the market. Funcom is also being charged for failing to maintain proper financial records during the game's launch and following months.

News reports state Funcom is cooperating fully and employees have been sent home as the investigation continues.

The company was hit with a round of layoffs in Sept. 2012 — including The Secret World's lead designer — and after a sharp dip in the company's stock, former Funcom CEO Trond Aas was put under investigation for insider trading. One year ago, the company announced it would undergo a major company-wide restructuring, which resulted in the closure of its Beijing studio and layoffs in its Montreal and Raleigh offices. Funcom's most recent financial report showed total revenue down by nearly 50 percent year-over-year.

In addition to running MMOs The Secret World and Age of Conan, Funcom is currently developing a licensed Lego MMO, Lego Minifigures Online. The company also holds the license to the Dreamfall series; currently Red Thread Games is developing the Kickstarter-funded Dreamfall Chapters: The Largest Journey.

Update: Funcom issued an update on the situation earlier today, stating documents were collected from its offices yesterday by the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime "in full cooperation with [Funcom's] employees and management." Funcom notes it is being compliant and helping to "make sure all facts are available" for the investigation.

Production on all games will continue normally following yesterday's disruption, the statement notes. Trading of Funcom stock has also resumed. When contacted yesterday, both Funcom and Lego game developer Traveller's Tales declined to offer further comment.

Sign up for the newsletter Sign up for Patch Notes

A weekly roundup of the best things from Polygon