Shareholders attack Sky Deutschland

German shareholder representation group DSW has stated the board of Sky Deutschland has an obligation to take legal action against the company’s former management over its alleged misstating of subscriber numbers and its financial situation.

Last week the company was castigated by financial regulator BaFin for allegedly overstating its subscriber figures and thereby misleading the market about its weak  financial situation in 2007 and  2008, when it was called Premiere.

Menawhile, Sky Deutschland has named Steven Tomsic as its new CFO, replacing Pietro Maranzana, who has moved to Sky Italia. Tomsic was director of corporate finance and planning for Europe and Asia at News Corp in London.

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