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Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: Thomson Reuters StreetEvents

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The Court of Cologne Dismisses GN Store Nord A/S' Claim in Court Case Against German Cartel Office

Tuesday, 26 Feb 2013 07:12am EST 

GN Store Nord A/S announced that on December 22, 2010 it had filed a claim of EUR 1.1 billion (approximately DKK 8.2 billion) as compensation for the loss imposed on the Company and its shareholders in relation to the German Federal Cartel Office’s unlawful prohibition of the sale of GN ReSound to Sonova on April 11, 2007. On February 26, 2013, the Court of Cologne, Germany, has dismissed the Company’s claim. The Court of Cologne acknowledges that the prohibition of the sale was unlawful but assess that this does not result in a liability for the German Cartel Office. The dismissal can be appealed to higher court instances. The Company will receive the written opinion from the Court of Cologne supporting its decision within a week. The Company will thoroughly assess the opinion before deciding whether to appeal the decision. 

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23 Dec 2014