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GN Store Nord A/S Appeals Court of Cologne's Decision in Court Case Against German Federal Cartel Office

Tuesday, 26 Mar 2013 07:00am EDT 

GN Store Nord A/S announced that it has on December 22, 2010 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 dismissed the Company’s claim. The Court of Cologne acknowledges that the prohibition of the sale was unlawful but claims that the unlawful prohibition does not result in liability for the German Federal Cartel Office. The Company announced that following thorough evaluation of the written opinion from the Court of Cologne, the Company disagrees with the decision by the court. The Company believes that there is a legal case against the German Federal Cartel Office and has consequently decided to appeal the decision. On March 26, 2013, the appeal has been filed to the Higher Regional Court of Cologne (Oberlandesgericht Koln). 

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-1.0 -0.75%
22 Aug 2014