Copenhagen Court Acquits PANDORA
February 23, 16
(IDEX Online News) – The Eastern High Court in Copenhagen has acquitted Danish bead and jewelry company PANDORA on charges of having breached the Securities Trading Act.
The original case alleged that the company’s August 2, 2011 announcement of downward adjustment of its revenue growth had occurred two weeks in advance of the ordinary reporting date for second quarter 2011 results.
The District Court in Glostrup found that PANDROA was obliged to announce its downward adjustment announcement no later than July 18, 2011 – two weeks before the official company statement. PANDROA appealed that verdict.