Vestas Faces Possible Lawsuit From Deminor

NAW Staff, Thursday 08 August 2013 - 16:36:32

Deminor International intends to sue turbine maker Vestas on behalf of disgruntled investors.

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.

The claim includes past and present board members Bent Erik Carlsen, Jorgen Huno Rasmussen, Jorn Ankær Thomsen, Torsten Erik Rasmussen, Hakan Eriksson, Kurt Anker Nielsen, Freddy Frandsen, Ola Rollen, Ditlev Engel and Henrik Nørremark, its former chief financial officer. Norremark is now under investigation for engaging in unauthorized dealings with two companies based in India.

In the release, Deminor says it intends to take Vestas to court unless it is paid by Aug. 16. In response, Vestas has said the claim has no merit and will not be accepted.



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