Brink may be sued over World Online sale

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The Independent Online

Nina Brink, chairwoman of World Online International, suffered another setback yesterday with news that she may be sued by investors for financial damages stemming from the Net provider's initial share sale.

Oscar Hammerstein, a lawyer, said a group of investors asked him to investigate filing criminal charges against Ms Brink and a civil suit against her and ABN Amro, Rothschild and Goldman Sachs, which helped manage the sale. The Dutch firm's shares fell 8.6 per cent to 16 euros ($14.48) on the news.

World Online said on Monday that Ms Brink sold 14.9 million shares at $6.04 to three companies in December, though its prospectus said she had "transferred" them. Mr Hammerstein said dozens of investors expressed interest in joining the suit after a report in Dutch newspaper De Volkskrant.