Swedbank board gets 'freedom from liability' as scandal rocks company

Swedbank AGM has voted for granting board chairman freedom from liability for 2018.

Freedom from liability is a special feature of Swedish company law and a mandatory vote for Swedish companies. Granting freedom from liability would limit the ability to seek legal action against management or board members at a later date.

Swedbank investors, representing the majority of shares present at AGM, earlier in the day had said that they will vote for granting board freedom from liability for 2018. However, they had said that they will vote against granting former CEO freedom from liability for 2018.