A partial ruling from a Danish court shows that the People's Bank of China is part of a lawsuit against Vestas, in which the former Vestas management led by Ditlev Engel and Bent Carlsen is accused of misleading the stock market with deceptive financial reporting, reports Danish media Børsen upon accessing the ruling.
The bank believes it lost DKK 44 million (EUR 5.9 million) on the deception. The plaintiffs, which apart from the bank include an investment fund owned by the Canadian government and Allianz Global Investors, is being advised by consultant firm Deminor, which declines to comment on the case. The former Vestas management is represented by Vestas lawyers Gorrissen Federspiel as they are covered by Vestas' executive liability insurance if they lose the case.
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