Danish Wind Turbine Co. Hit With Securities Action

Law360, New York (March 21, 2011, 7:18 PM EDT) -- A putative class of investors sued a Danish wind turbine company Friday in Colorado, accusing the company of artificially inflating its share price when it retroactively decreased its 2010 revenue outlook and disclosed that it hadn't followed international accounting standards.

Vestas Wind Systems A/S shareholders lost 57 percent from the class period high because of the company's deeds, according to a complaint filed in the U.S. District Court for the District of Colorado by the City of Sterling Heights General Employees' Retirement System.

The suit was...
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