Two former Square Enix employees are arrested on suspicion of using inside information about Dragon Quest for their benefit – Dragon Quest Tact – 3dgames

As in any large sector, the movement regarding investments in video game companies is carefully studied to prevent the proliferation of crimes. In this case, they are two former employees of Square Enix those who have gotten into trouble for, according to the Japanese authorities, use inside information for your benefitwhat is known as “insider trading”.

Former Square Enix employees invested $336,300 in the Aiming studio days before their responsibility for Dragon Quest Tact was confirmed.

Before continuing, we clarify that this crime consists of taking advantage of internal data on the next actions of a company to make an investment before your stock soars. In this way, buyers can make a good profit by selling everything purchased for a higher price, which is why the two former Square Enix employees have already been arrested on suspicion of having carried out said strategy.

These accusations date back to the announcement of Dragon Quest Toucha free mobile game that made the developer gain presence aiming for being the study responsible for the title. According to the Japanese media Automaton (via VGC), former Square Enix workers bought shares worth 47 million yen ($336,300) just before confirmation that Aiming was behind Dragon Quest Tact was made public.

Square Enix

After the arrests, Square Enix has spoken about it with a message in which it claims to be collaborating with the Japanese authorities to provide all possible details about the detainees:

“Today, some media reported that former Square Enix employees are being investigated on suspicion of insider trading.

We have been fully cooperating with requests from the Securities and Exchange Surveillance Commission. As the investigation by the Tokyo District Prosecutor’s Office continues, we will continue to fully cooperate with the investigation.

We are deeply sorry for the great concern that all this has caused. We have dealt with the incident strictly, including internal disciplinary actions that have been taken against the suspected employees.”

The measures taken by Square Enix

The company behind franchises such as Final Fantasy has not wanted to remain solely in ensuring its collaboration with the authorities and, therefore, has decided to share the measures taken To prevent this situation from happening again in the future:

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“We have established the appropriate management system for confidential information and have also prepared a system to prevent insider trading, such as the obligation to notify in advance when investing in the Company’s shares and prohibiting investment in the Company’s shares and other listed companies that have business relationships with the Company before material non-public information is disclosed.”

It should be remembered that this situation was also experienced with the Microsoft’s purchase of Activision BlizzardWell, some business friends of Bobby Kotick, CEO of the company behind Diablo or Overwatch, they made a gigantic investment days before the news of the acquisition was published.

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