EANS-News: Balda AG settles lawsuit filed because of negligent advice
Bad Oeynhausen (euro adhoc) -
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Justice/Processes
Balda AG settles lawsuit filed because of negligent advice
Bad Oeynhausen, 23 June 2010 - Balda AG, listed in the SDax segment of the Frankfurt Stock Exchange, settled the lawsuit filed because of negligent advice against a former consultant with an out-of-court settlement. "We are very satisfied with this solution. It is preferable to the continuation of the lawsuit in court and appeal proceedings", Balda CFO Rainer Mohr explained. The Cologne District Court had given justice Balda on its merits in the first instance. The defendant had filed an appeal.
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Company Profile Balda AG The Balda Group develops and produces complete plastic assemblies, electronic products and products for the medical industry. The customers of Balda are leaders in business from the mobile, entertainment and electronic communications as well as pharmaceutical and medical technology markets.
The group has an international position with product sites in China, Malaysia and Germany. A subsidiary in the United States serves North American customers in product design and development. As part of a shareholding in a leading manufacturer of touch screens in China, Balda participates in the dynamic touch screen displays market.
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This corporate news announcement includes "forward-looking statements" which are based on the current expectations of the management of Balda. They are subject to risks and uncertainty because they relate to events and depend on circumstances that will occur in the future, such as, for example, developments in the mobile communications industry, changes in technology and the ability to timely and successfully develop new products and various other factors. Balda does not undertake any obligation to update publicly or revise forward-looking statements except to the extent legally required.
This corporate news announcement is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or elsewhere. The shares in Balda AG (the "Shares") may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act") unless registered under the Securities Act or pursuant to an exemption from such registration. The Shares have not been and will not be registered under the Securities Act.
end of announcement euro adhoc
Further inquiry note:
Clas Röhl
Tel.: +49 (0) 5734 922-2728
croehl@balda.de
Branche: Semiconductors & active components
ISIN: DE0005215107
WKN: 521510
Index: CDAX, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade