Subgen AI files appeal against the administrative fine to the Administrative Court of Appeal
Subgen AI files appeal against the administrative fine to the Administrative Court of Appeal
Subgen AI AB (”Subgen AI” or the ”Company”) has decided to appeal the verdict by the Administrative Court (Sw. förvaltningsrätten) in Stockholm to the Administrative Court of Appeal (Sw. kammarrätten).
On 25 June 2025, the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) resolved to issue an administrative fine of SEK 12 million against Magnasense AB, the previous company name of Subgen AI, for violations of article 17.1 of the EU Market Abuse Regulation.
Magnasense AB filed an appeal to the Administrative Court in Stockholm on 14 July 2025 against the decision by the Swedish Financial Supervisory Authority. The Administrative Court upheld the administrative fine imposed by the Swedish Financial Supervisory Authority, as announced by the Company on 4 June 2026.
Following a thorough review of the Administrative Court's verdict, the Company has today resolved to appeal the verdict to the Administrative Court of Appeal.
For further information, please contact:
Lorenzo Serratosa, CEO Subgen AI AB
Email: ir@subgen.ai
About Subgen AI
Subgen AI (Nasdaq First North: SUBGEN) is a Stockholm-headquartered enterprise AI company serving clients in healthcare, financial services, energy, and the public sector across Europe, the United States, and Latin America. Its flagship platform, Serenity Star, enables organisations to deploy, govern, and scale generative AI with full EU AI Act compliance and data sovereignty. For more information, visit https://subgen.ai.
The Company’s Certified Adviser is Eminova Fondkommission AB | adviser@eminova.se