ZURICH Oct 5 Swiss hearing aid maker Sonova
said on Monday it has reached an out-of-court
settlement with investors represented by shareholder advocacy
group Deminor related to claims stemming from the company's
March 16, 2011 profit warning.
Under the terms of the agreement, Sonova will pay investors
2.6 million Swiss francs ($2.79 million) in full settlement of
all alleged claims without acknowledging any legal obligation,
the company said.
Sonova had been served with summons to pay in the amount of
approximately CHF 26 million by investors. The Sanction
Commission of the Swiss bourse SIX had found in July that
Sonova's profit warning should have been published already on
March 4, 2011.
($1 = 0.9319 Swiss francs)
(Reporting by Andrew Thompson)