Denmark 's Vestas Wind Systems A/S (VWS.KO) said Monday it will contest a class action lawsuit brought by a U.S. pension fund alleging the company gave misleading information about its earnings in 2010, causing investors to lose money.

Vestas, the world's biggest wind turbine maker, said Monday the complaint concerns a change in its accounting policy announced on Nov. 22, 2010 , that affected valuations for supply-and-installation projects.

"They say we have misled people and that they have lost money," Peter W. Kruse, senior vice president of group communications at Vestas, told Dow Jones Newswires.

He said the charge was without merit and that the company and the individual defendants would defend themselves "vigorously." Kruse said the amount of damages being sought was still unclear. "They haven't given a sum."

U.S. law firm Robbins Geller Rudman & Dowd LLP on Friday filed the complaint with the Federal District Court in Colorado . It brought the class action on behalf of a pension fund directed by the city of Sterling Heights , which had invested in Vestas securities between Oct. 27, 2009 , and Oct. 25, 2010 .

"Defendants issued materially false and misleading statements regarding the company's financial revenues and earnings, as well as their fiscal year 2010 financial guidelines," Robbins Geller Rudman & Dowd LLP wrote in the complaint, published on their website.

According to the complaint, charges are brought against Vestas, Vestas Americas, Vestas' chairman Bent Erik Carlsen, its chief executive officer Ditlev Engel, its chief financial officer Henrik Norremark and Martha Wyrsch, president of Vestas operations in the U.S.

Shares in Vestas fell on the report and at 1344 GMT were trading 2.8% lower at DKK202.20, underperforming a 0.2% rise in the broader Copenhagen market.

Alm. Brand analyst Michael Friis Jorgensen said it is difficult to gauge what effect the lawsuit will have.

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