Former Perlos management charged for late profit warning

Former executives Timo Leinilä and Heikki Mairinoja, as well as board members Matti Aura, Sten-Olof Hansen, Mikael Lilius and Kari O. Sohlberg were charged on Monday in Finland. According to the prosecution a profit warning that was issued in January 2003 should have been published in December the previous year. The defendants have denied any wrongdoing. The management claims that there insufficient indications in December 2002 to warrant a profit warning at that stage, Newsroom Finland said. Anja-Riitta Rinkinen, the district court prosecutor, is calling for both - individual fines and a corporate fine of €20000.