Pandora to Pay $330K Fine in Securities Case
Dec 2, 2014 4:26 PM
By Jeff Miller
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RAPAPORT...
Pandora Jewelry was ordered to pay a $333,000 (DKK 2 million) fine in connection with a breach of the Securities Trading Act in Denmark. The company stated that it is reviewing whether or not to appeal the ruling that was passed by the District Court in Glostrup.
The jewelry company stated that the securities charge dated back to August 2, 2011, at which time it downgraded revenue growth projections just two weeks prior to the scheduled reporting date of its second-quarter results that year.
The court ruled that Pandora was obliged to have announced any downward adjustments in projected revenue no later than July 18, 2011.
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Tags:
Jeff Miller, Jewelry, Pandora, securities
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