Vestas’ insurer will pay the entire proposed settlement, which is subject to approval by a US court and other conditions, the giant turbine vendor says in a statement released from its headquarters in Denmark.
Owners of Vestas American Depositary Receipts and ordinary shares filed the lawsuit against Vestas Wind Systems A/S, the company’s US subsidiary, the executive and certain directors.
Among the allegations raised by the plaintiffs was that Vestas’ share price had been inflated during a three-year period starting in February 2009 due to purported misstatements and omissions in relation to the company’s accounting for certain supply-and-installation contracts.
“Vestas
