False Alarm! Police May Probe On Fake Notice About Samsung Deal

Jaycee De Guzman October 12, 2013 0
False Alarm! Police May Probe On Fake Notice About Samsung Deal


Few days ago, different news have been circulating on the internet about the alleged Samsung deal to buy a biometrics company to go head-to-head with Apple on making fingerprint scanners for their mobile phones. One of the reports named the company Fingerprints Cards AB (FINGB) as the one who agreed to be sold to the South Korean tech company. The Swedish company has known to be a manufacturer of biometric sensors which will be needed by Samsung Electronics to make their own version of the fingerprint scanner for their future phones.

FINGB To Tap Authorities To Check On False Press Release

According to the Sweden-based biometrics firms, they are now planning to consult and request the police department to probe on the current issue. The said fake press release was published by Cision AB (CSN), a firm specializing on distribution of press release. The fake press release was shared and circulated for about 17 minutes before being suspended due to volatility. The cancellation of the publication was ordered by the Stockholm exchange. Because of the incident, their competitor, Precise Biometrics AB (PREC) saw its stock soar high after the cancellation of the press release.

False Alarm! Police May Probe On Fake Notice About Samsung Deal


Press Release Distribution Firm Was “Fooled” By Unknown Persons

In a statement made by FINGB, they denied that they sent the press release to CSN. However, CSN told that a person ‘tricked’ them by pretending to be a managing director from FINGB and ordered them to circulate the fake press release. According to CSN Sweden head, Magnus Thell, their company was a victim of fraud. He also added that their company has existing standard procedures and precautions in accepting releases, however, the perpetuator managed to ‘trick’ and fool their staff and denied that their company’s system were hacked or compromised. The distribution company already filed a report to the police about the said incident.

Samsung Unaware Of The Deal News; Biometrics Companies’ Stocks Soar

According to Samsung Electronics spokesman Jason Kim, they do not have any idea about the news stating that they have agreed to a deal with FINGB. Another spokesperson from the South Korean company also denied the press release and said it was false. The incident caused by hoaxers resulted into soaring stocks for the biometrics makers. According to reports, FINGB stocks rose for about 51 percent after the news about the false Samsung deal broke out. The company’s market value was also raised by about $200 million. PREC stocks also surged by about 41 percent. However, stocks for CSN declined by 7.20 percent after being blamed for the distribution of the fake press release. This is worst decline for CSN in five months.

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