Private investors who own shares in Nebius Group (formerly Yandex NV) believe that the deal to sell the company’s Russian business is contrary to the principles of law, order and morality. That is why they filed a lawsuit against the new owners of Yandex. RBC Investments writes about this.
Author:
https://rb.ru/author/ntihonov/
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An initiative group of minority investors filed a lawsuit against Nebius Group NV and Solid Management in the Arbitration Court of the Kaliningrad region. It demands that the transaction of alienation of MKPAO Yandex shares in favor of the closed mutual fund Consortium.First be declared invalid. The third, according to the plaintiffs, is the new Russian legal entity of Yandex – MKPAO Yandex.
The essence of the claims was expressed to the publication by the plaintiffs’ lawyer Nikolai Penkov. The case materials claim that as a result of the transaction, minority holders of Yandex NV securities were unable to sell the company’s shares at a fair price and receive income from the assets of MKPAO Yandex, transferred by Yandex NV to the closed consortium of mutual funds. .First.
“According to the plaintiffs, the transaction between Yandex NV and the closed-end investment fund Consortium.First was made for a purpose clearly contrary to the foundations of law and order or morality, which makes it void,” the lawyer said.
The management company Solid Management said it had not yet received a statement of claim and believes that the rights of Yandex NV (Nebius Group) shareholders were not violated, stating that the transaction was carried out in accordance with the requirements of applicable law.
At the end of July, the Moscow Arbitration Court registered a class action lawsuit of private investors against the new owners of Yandex, the closed-end mutual fund Consortium.First. The plaintiff is individual Alexander Batluk, the defendant is the management company “Solid Management”, which manages the closed-end mutual fund “Consortium.First”. More than 100 shareholders of Yandex NV participate in the statement.
Author:
Nikolai Tikhonov
Source: RB
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