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Swedish officials barred software manufacturer and internet café owner Global Gaming Factory from trading its shares on AktieTarget, the country’s stock exchange, on Wednesday 9^th September 2009 following an investigation into its announcement that it planned to buy the Pirate Bay file-sharing website.

Doubts over the ability of GGF to complete the £4.7 million purchase of the website arose almost as soon as the announcement of the planned takeover was made.   But the exchange ruled that the announcement ‘prompted a number of investors to do business they probably would not have done if they were properly informed.’

A statement issued by the exchange said, ‘Following a recommendation from the disciplinary committee, the board of AktieTorget has today decided to exclude Global Gaming Factory X from organised share trading.   The decision applies with immediate effect.’

The statement said that GGF had ‘seriously violated’ the exchange’s rules by failing to provide information to investors that was ‘accurate, relevant and reliable.’

‘They give a systematic impression of a lack of accountability and of an almost casual and unsuspecting approach to disclosure requirements.’

The development did little to secure the future of the trouble Pirate Bay website two months after four men were sentenced to prison and fined £2.4 million for operating the site.

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