14/11/2016 11:19:07

NeuroSearch found guilty of market manipulation in Supreme Court case

Related content
21 Mar - 
Report on Annual General Meeting of NeuroSearch A/S
07 Mar - 
Report pursuant to section 28a of the Danish Act on Sec..
27 Feb - 
Notice convening the Annual General Meeting of NeuroSea..

Announcement

14 November 2016

The Danish Supreme Court today upheld the Eastern High Court’s decision in a case in which the State Prosecutor for Serious Economic and International Crime had charged NeuroSearch with market manipulation contrary to the Danish Securities Trading Act and the Market Abuse Regulation. The company was further ordered to pay a fine of DKK 5 million.

The charge was brought following NeuroSearch’s announcement in February 2010 in which the company reported top-line results from a clinical phase III study on its drug candidate Huntexil®.

Chairman of the board of directors, Karin Garre, says in a comment:

"It is very regrettable that the Supreme Court has decided to uphold the High Court’s judgment considering that the High Court acquitted the company’s former CEO on the same count. NeuroSearch of course will respect the Supreme Court's ruling that the company is responsible for the announcement concerning the outcome of a clinical study in 2010 contained misleading signals about the market price so that it amounted to market manipulation. This does not reflect NeuroSearch’s view of the situation and that is why we decided to refer the matter to the Supreme Court. With this ruling, the company will work with a view to rapidly decide the future of the company.”

Following the Supreme Court judgment, the board of directors will now assess NeuroSearch’s future and provide the shareholders with the board’s recommendations on the steps to be taken.

The judgment does not affect the company’s expectations for the annual results in 2016.

Karin Garre                                                 Allan Andersen

Chairman of the Board                                CEO

Contact

Allan Andersen, CEO, telephone: +454016 3864.

About NeuroSearch

NeuroSearch A/S (NEUR) is listed on NASDAQ Copenhagen A/S.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
Ingen indlæg

Alliance Trust PLC : Transaction in Own Shares

14/06/2017 07:00:13
14 June 2017  Alliance Trust PLC TRANSACTION IN OWN SHARES  The Board of Alliance Trust PLC ("the Company") announces that on 13 June 2017 the Company purchased for cancellation 209,000 ordinary shares of 2.5p each at a price of 708.0748p per share.  Therefore, the total number of voting rights in the Company is now 354,575,762.    The above figure (354,575,762) may be used by shareholder..

Majedie Asset Management Ltd : Form 8.3 - TESCO PLC

13/06/2017 15:20:46
FORM 8.3   PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code")   1.         KEY INFORMATION   (a) Full name of discloser: ..

Quarterly Update for the Quarter to 30 April 2017

13/06/2017 12:50:10
13 June 2017 ICG Enterprise Trust Plc Quarterly Update For the quarter to 30 April 2017 Highlights Share price Total Return1 of 5.7% for the quarter and 39.9% for the 12 months to 30 April 2017 Net asset value per share Total Return1 of 0.6% for the quarter and 19.9% for the 12 months The Portfolio1 is valued at £54..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Agios Announces Updated Data from Fully Enrolled DRIVE PK Study Demonstrating AG-348’s Potential as the First Disease-modifying Treatment for Patients with Pyruvate Kinase Deficiency
2
New Data from Phase 1/2 Trial of Oral IDHIFA® (enasidenib) Demonstrate Durable Complete Responses in Patients with IDH2 Mutant Relapsed or Refractory AML
3
Survey finds U.S. mayors taking action on climate protection, and planning for more
4
Norway Royal Salmon ASA: Share-based incentive scheme - Mandatory notification of trade
5
MAYORS SAY: LOOK TO CITIES FOR INSPIRED LEADERSHIP AND REAL RESULTS IN THE FACE OF DEEP NATIONAL FRUSTRATION WITH WASHINGTON

Related stock quotes

NeuroSearch A/S 3.54 -0.3% Stock price decreasing

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2017   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
25 June 2017 09:36:38
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20170623.1 - EUROWEB4 - 2017-06-25 10:36:38 - 2017-06-25 09:36:38 - 1000 - Website: OKAY