in News Departments > FYI
print the content item

Deminor International has filed an EUR 11 million lawsuit against three Vestas exectives on behalf of 87 individuals. According to Vestas, "this is not a class action lawsuit but 87 individual claims for damages, grouped in one claim."

The claim is directed against Bent Erik Carlsen, Ditlev Engel and Henrik Norremark, the company's former chief financial officer who is now under investigation for engaging in unauthorized dealings with two companies based in India.

Vestas says the claim is based on an existing lawsuit filed by Deminor against Vestas in the U.S. on behalf of Commerzbank International Portfolio Management, who claims the turbine maker issued false information regarding its revenue and earnings.

According to a Vestas spokesman, an earlier Deminor notice filed on Aug. 6, was a notification of an intent to file. At that time, Deminor said it intended to file a claim for 40 million euros, which included past and present board members Jorgen Huno Rasmussen, Jorn Ankær Thomsen, Torsten Erik Rasmussen, Hakan Eriksson, Kurt Anker Nielsen, Freddy Frandsen, Ola Rollen, Carlsen, Engel and Nørremark.

Vestas has reviewed the claim and contends it is without merit.


Advertisement

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015