Swedish business magazine “Affärsvärlden” issues an apology to Oasmia

April 2 2012

Julian Aleksov, CEO of Oasmia and Bo Cederstrand, former Chairman of the Board of the company, have received full redress as the weekly business magazine Affärsvärlden ("Business World") has apologised and withdrawn its accusations against them. This has happened after Affärsvärlden was sued by Mr Aleksov and Mr Cederstrand for serious libel. Affärsvärlden found, after reviewing the underlying facts, that there were no grounds for the conclusions that were drawn and has therefore apologised to Mr Aleksov and Mr Cederstrand.

"We are very relieved that Affärsvärlden has retracted these groundless accusations and apologised, giving us full redress. It is, however, not easy to accept an apology since there is no way to compensate the damage this publicity has caused, both on a financial and personal level", says Bo Cederstrand

Affärsvärlden published an editorial on 2 February, 2011 where the editor, Mr Jon Åsberg claimed that Oasmia for years had provided untrue information to the financial markets or, "probably and worse, fleeced the heirs of a deceased professor of 200 million SEK". The accusations were reinforced on the front page of the magazine and in a longer article signed by the journalist Calle Froste. Having conducted a deeper review of the facts, Affärsvärlden has now found that there were no grounds for the conclusions that were drawn and published. Affärsvärlden and its editor, Mr Jon Åsberg has issued an apology for this.

The previous editor of Dagens Nyheter, Mr Arne Ruth, who has been called in as an expert witness, says: "Considering the well established practices with the Press Ombudsman and PON regarding checking of facts and presumption of innocence, I have no doubt whatsoever that Affärsvärlden would have been found guilty of misconduct if tried by either of these.

The press release is available in PDF-format here.

For more information, please contact:

Bo Cederstrand/Julian Aleksov, Oasmia Pharmaceutical AB
Tel: +46 18 50 54 40
Lawyer Percy Bratt (representative for Aleksov and Cederstrand)
Tel: +46 70 767 46 06

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