[THE INVESTOR]  Coway denied reports that its largest shareholder Coway Holdings will sell off its stake, in a statement released on Sept. 9 in response to Korea Exchange’s inquiry.

The holding company did consult Goldman Sachs on a variety of strategies including sell-off but decided not to proceed as it decided that the stock price was underestimated, Coway added.

The country’s leading water and air purifier maker has recently been under fire for having knowingly sold nickel-contaminated water purifiers. Consumers of its faulty models have filed a class action suit against the company demanding it pay 2.8 billion won (US$2.53 million).

By Hwang You-mee (glamazon@heraldcorp.com)