The Dutch shareholders’ association VEB is threatening to take legal action against two former directors of technical services group Imtech for misleading investors.
The VEB says former CEO René van der Bruggen and CFO Boudewijn Gerner are responsible for presenting the wrong first-half figures to investors last year. This may have led to investors buying shares in the company based on misleading information.
Imtech has been hit by a €150m write-off on an amusement park project in Poland and a €220m write-off on its German activities.
The VEB said it is also considering taking action against Imtech’s supervisory board and in-house accountant KPMG for their failings.