Sonova expects summons to pay ("Zahlungsbefehle") from investors
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.
This Media Release may contain forward-looking statements which offer no guarantee with regard to future performance. These statements are made on the basis of management's views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside the company's control.
Sonova Holding AG
Sonova is the leading provider of innovative hearing healthcare solutions. The globally active group is the world's top manufacturer of hearing systems, the market leader in wireless communication systems for audiology applications, develops and manufactures advanced cochlear implant systems and provides professional solutions for hearing protection. Sonova is pursuing a clear growth strategy and is intent to grow faster than the market. To this end it is constantly expanding its existing business segments and branching out into other areas of the hearing healthcare industry. Present in over 90 countries, and with a workforce of over 7,800 employees, Sonova generated sales of CHF 1.6 billion in the financial year 2010/11 and a net profit of CHF 231 million. This financially strong group of companies bases its success on innovation, customer focus and proactive cost management. The company has been successfully promoting understanding and communication for over 60 years, and is ideally positioned to benefit from the trends in this growth industry.
For more information please visit www.sonova.com.
Sonova shares (ticker symbol:SOON) have been listed on the SIX Swiss Exchange since 1994. The securities of Sonova have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States of America except pursuant to an exemption from the registration requirements under the U.S. Securities Act, or outside the United States of America in reliance on Regulation S under the U.S. Securities Act.