Investors Suing Pandora For Alleged Losses Caused By Late Profit Warning

(IDEX Online News) – Belgian investor recovery company Deminor is suing jewelry giant Pandora on behalf of 38 institutional investors for the recovery of losses which they claim was the result of a late profit warning issued by the company on August 2, 2011.

"The Danish stock exchange, Nasdaq OMX, reprimanded Pandora in December 2011 for the late profit warning," Deminor said.

"And in January 2012 the Danish Financial Supervisory Authority confirmed the Nasdaq OMX findings which led to the indictment against Pandora for breach of the Danish Securities Trading Act by the Danish Office of the Public Prosecutor for Serious Economic Crimes in November 2013." 

Deminor’s clients are suing both Pandora and its President and CEO Allan Leighton at a court in Denmark "with the aim of seeking damages for the losses suffered on their purchases of Pandora shares in the months preceding the profit warning."