By Brecken Branstrator
brecken.branstrator@nationaljeweler.com
Copenhagen, Denmark--Pandora has been acquitted by the Eastern High Court in Copenhagen on charges of breaching the Denmark Securities Trading Act.

The case dates back to 2011, when Pandora announced on Aug. 2 that it had downgraded its annual revenue forecast, two weeks before reporting its full second quarter 2011 results.

In December 2014, the District Court of Glostrup ruled that the company should have announced the downward adjustments of revenue growth expectations for 2011 no later than July 18 and fined the company 2 million Danish krone (about $333,000 at the time) for waiting too long.

Pandora then appealed the verdict. On Tuesday, the High Court acquitted it on all charges.

The company, which is coming off a year in which it saw global sales increase 40 percent, said that it doesn’t expect the acquittal ruling to have an impact on its outlook for 2016.



Get the Daily News >
National Jeweler

Fine Jewelry Industry News

Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.