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5 June 2020 |
The futures price will be calculated by the court. Investors demand compensation from the Moscow ExchangeThe stock exchange reported that "documents received" and they are being studied. The lawyer, whose contacts are indicated as conducting business in the interests of a group of persons, did not respond to a request from Kommersant. The lawsuit states that "the defendants did not take effective measures to prevent traders' extra-losses and to ensure that they were able to close futures positions, including during the period of a positive price for American futures and until the calculation of the futures price." Earlier, Milton Legal also announced the preparation of a class action lawsuit, the total losses were estimated at about 1 billion rubles. A company representative told Kommersant that the lawsuit is in preparation.
Finam President Vladislav Kochetkov believes that the current situation is a force majeure, but the exchange infrastructure was not ready to work with negative quotes. According to him, the company individually solves issues with customers. “A more constructive scenario would be the sharing of responsibilities and the participation of the exchange and brokers in closing losses, but the exchange does not show readiness for dialogue,” Mr. Kochetkov said. <...>
According to Viktor Petrov, head of the arbitration practice at Vegas Lex, the position of the exchange looks stronger from the substantive point of view: it will not be easy for the plaintiffs to prove a causal relationship and unfair actions. Moreover, he says, as investors, plaintiffs should be familiar with the rules of bidding and cannot invoke ignorance.
You can find the full version of the article here: https://www.kommersant.ru/doc/4366915 |
