On Tuesday, the news came that Ilija Batljan, a former Social Democratic politician and CEO of the Society Building Society (SBB), was arrested on suspicion of a violation of the Market Abuse Act.
The battalion has denied all charges and on Wednesday, the Prosecutor's Office prosecutors decided to cancel the arrest.
"There are still suspicions of crime, but when it comes to this type of crime and the prosecutor so quickly decides to set him free, it is a clear signal of where we stand," says Filip Rydin.
"My client is obviously extremely relieved to regain freedom," he continues.
Retires immediately as CEOIlija Batljan will return to her role as CEO of SBB with immediate effect, the company announces.
“The Board has full confidence in Ilija. I have worked with Ilija since the start of SBB and have seen closely his incredible ability to build and run this company. SBB remains strong, "says Lennart Schuss, Chairman of SBB's Board of Directors, in a press release.
SBB has more than 13,000 apartments in some 30 locations around Sweden, largely in so-called million program areas.
The company's share has risen sharply in the past year, but initially declined more than 40 percent after the announcement of the arrest. Later on Tuesday evening, the share was minus 15 percent.