Nokian Tyres plc Stock Exchange Release April 10, 2025, at 10:15 a.m. EEST
The case heard in the Court of Appeal was related to the events of 2015-2016. According to the charges, the company's Board of Directors and President and CEO at the time had failed to disclose information affecting the value of the company's securities in December 2015. In addition, according to the charges, four of the company's employees had made insider transactions with the company's stock options at the end of 2015. The District Court had dismissed all charges in 2022.
The Court of Appeal dismissed the charges against the company's former board members Hille Korhonen, Raimo Lind, Inka Mero, Hannu Penttilä and Petteri Walldén. The Court of Appeal sentenced the company's former President and CEO Ari Lehtoranta to a fine for a securities market information offence. Three of the company's employees were sentenced to fines and one employee to 4 months and 15 days of suspended imprisonment for misuse of inside information. The company was ordered to pay a corporate fine of EUR 50,000. The company was not found to have engaged in malpractices in magazine tests as alleged in the charges.
"We are surprised by the judgment of the Court of Appeal. We will go through the verdict carefully and assess separately whether there is reason to apply for leave to appeal to the Supreme Court," says Kai Kotiranta, the company's attorney-at-law.
The judgment of the Court of Appeal is not final. The company does not comment on the matter further.
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Nokian Tyres' purpose is to make the world safer by reinventing tires, and how they are made, over and over again - a safer place to drive, work and live now and for generations to come. Inspired by our northern heritage, we develop and manufacture premium tires for passenger cars, trucks and heavy machinery with sustainability at the heart of all our operations. Our Vianor chain provides tire and car services. We are some 3,800 people with net sales of EUR 1.3 billion in 2024, and together we lead the journey to smarter driving for people and for businesses. Nokian Tyres is listed on Nasdaq Helsinki. Further information: company.nokiantyres.com
