NeuroSearch A/S
NeuroSearch appeals Copenhagen City Court judgment for share price manipulation

NeuroSearch A/S 

18.08.2014 13:39

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Company Announcement
18 August 2014



As stated in a company announcement on 8 August 2014, the City Court of
Copenhagen has convicted NeuroSearch of violating section 39 of the Danish
Securities Trading Act and ordered the company to pay a fine of DKK 5 million. 

NeuroSearch received the judgment with wonder and surprise. The company
recognises that the announcement released on 3 February 2010 mistakenly assumed
that the primary endpoint had been met in the Phase III study of the drug
candidate Huntexil(R) whose top-line results were described in the announcement. 

It later turned out that the conclusion about meeting the endpoint was based on
a statistic correction that was not described in the study protocol.
Immediately after it became clear to management that the primary endpoint had
not been met in the study, the company on its own issued a corrective
announcement on 28 April 2010. 

The Board of Directors is of the opinion that there is no evidence for
convicting the company of share price manipulation or for ordering the company
to pay a fine of DKK 5 million. The Board of Directors further believes that it
is in the interest of the company's shareholders that the matter be submitted
to the High Court. The company has therefore decided to appeal the judgment of
the City Court of Copenhagen to the Eastern High Court of Denmark. 


Karin Garre
Chairman



Please direct any questions concerning this announcement to
Allan Andersen, CEO, telephone: +45 4016 3864

About NeuroSearch
NeuroSearch A/S (NEUR) is listed on NASDAQ OMX Copenhagen A/S.
News Source: NASDAQ OMX



18.08.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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Language:     English
Company:      NeuroSearch A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010224666
WKN:          
 
End of Announcement                             DGAP News-Service
 
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