Skip to content
Subscriber Only

GN Shares Drop as Headset Sales Fall, Accounting Fraud Detected

GN Store Nord A/S fell the most in four years in Copenhagen trading after the headset unit reported shrinking sales, the company cut its revenue forecast and the hearing aid division was hit by accounting fraud.

GN sank 8.7 percent to 128.60 kroner at 10:45 a.m., giving the company a market value of 20.8 billion kroner ($3.1 billion). The shares plunged as much as 12 percent, the most since Aug. 11, 2011. The decline made the stock today’s biggest loser in the Stoxx Europe 600 Index.