Pandora Acquitted in Denmark Finances Court Case

Finance and Trade
23/02/2016 12:20

Jewelry maker Pandora announced that the Eastern High Court in Copenhagen has acquitted the firm on all counts in a case concerning potential breach of the Securities Trading Act. The verdict concerns a case dating back to 2011 and relates to Company Announcement No. 30 of 2 August 2011, when Pandora announced a downward adjustment of its revenue growth expectations, two weeks earlier than the ordinary reporting date for the Q2 2011 results. In December 2014, the District Court in Glostrup found that the Company was obliged to announce a downward adjustment of the revenue growth expectations for 2011, no later than July 18, 2011, leading Pandora to appeal the verdict. Pandora said the decision will have no impact on Pandora's outlook for 2016.