Skip to main content

15/03/2012 | 07:30 CET | Group Announcements

Sonova expects summons to pay (“Zahlungsbefehle”) from investors

Staefa (Switzerland), March 15, 2012 – Sonova Holding AG has been notified that it will be served over the next days with summons to pay (“Zahlungsbefehle”) in the amount of approximately CHF 15,000,000 by various investors represented by Deminor SCRL / CVBA, a Belgian company active in the field of shareholder damage recovery. According to Deminor, summons to pay will also be served on Andy Rihs, member of the Board of Directors of Sonova.

Deminor announced at Sonova’s annual general meeting in June 2011 that it represents investors who consider taking legal action against Sonova to obtain compensation for purported damages suffered as a result of Sonova’s allegedly late profit warning of March 16th, 2011. The summons to pay are filed as a precautionary measure to prevent alleged claims from these investors from becoming time-barred. Sonova will formally object to the summons to pay. As of now, no lawsuits have been filed against Sonova and, if so, Sonova will vigorously oppose any potential lawsuit. As previously communicated, the timeliness of the profit warning of March 16th, 2011 is currently being investigated by SIX Swiss Exchange AG.


– End –