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HEADACHES GROW FOR PANDORA August 17, 2011 (0 comments)
Copenhagen, Denmark—More headaches are forecast for Pandora, as Danish financial market regulators are asking police to investigate Nordea Bank Denmark (a division of the Swedish-based Nordea) for failing to report its interest in the jewelry company during a pre-IPO investment analysis. This latest jolt—reported here on Reuters.com—comes on the heels of the resignation of its CEO, Mikkel Vendelin Olesen, early this month following a revenue report running 60% below plan. The company posted a 30% drop in revenue year-over-year for July, against original projections of a 30% gain. Pandora shares dropped 1% on the latest news.