PRESS RELEASE 14 Jun 2011
Pöyry comments on class action complaint in Canada
PÖYRY PLC Press release 14 June 2011 at 3.15 p.m.
Muddy Waters, LLC has published a report in respect of Sino-Forest Corporation of Canada containing references to valuation services rendered by Pöyry (Beijing) Consulting Company Limited, a subsidiary company of Pöyry PLC based in China.
Sino-Forest Corporation has been a client of Pöyry's Management Consulting business group. In that capacity, Pöyry (Beijing) Consulting Company Limited has provided certain consulting services to Sino-Forest Corporation.
Pöyry has become aware that a class action complaint has been filed with the Superior Court of the Province of Quebec (Canada) on 9 June 2011 against Sino Forest Corporation, as well as several individuals and entities, including Pöyry (Beijing) Consulting Company Limited.
This complaint and any similar potential proceedings involving Pöyry (Beijing) Consulting Company Limited in connection with the above referenced services will be vigorously contested. As is customary with respect to pending proceedings, Pöyry will not comment further in respect of the events underlying any proceedings.
Additional information by:
Anne Viitala, EVP Legal & Commercial and Group General Counsel
Concact: Helena Küttner, PA to Anne Viitala, +358 10 33 22224
Pöyry is a global consulting and engineering company dedicated to balanced sustainability and responsible business. With quality and integrity at our core, we deliver best-in-class management consulting, total solutions, and design and supervision. Our in-depth expertise extends to the fields of energy, industry, urban & mobility and water & environment. Pöyry has 7,000 experts and a local office network in about 50 countries. Pöyry's net sales in 2010 were EUR 682 million and the company's shares are quoted on the NASDAQ OMX Helsinki. (Pöyry PLC: POY1V).