Pandora Breached Securities Law, Court Finds

A Danish court has ruled Pandora breached local securities law in 2011 by not reporting disappointing sales results in a timely enough manner. 

The charm maker was fined 2 million Danish kroner, or about $333,000. It is weighing an appeal. 

The Danish jeweler has long struggled to get past its 2011 rough patch, when it announced, two weeks ahead of its financial results, that sales would be flat rather than the predicted 30 to 40 percent rise. The news triggered a 66 percent drop in its share price, as well as a legal inquiry and class-action suit.

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JCK News Director