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. Last Updated: 07/27/2016

Novolipetsk Delay

MOSCOW () -- Rulings on prominent shareholders' rights cases brought against Russian steelmaker Novolipetsk Metals Combine have been postponed, a judge involved in the case said Thursday.


The judge, who asked that he not be identified, said rulings on the cases had been postponed after some sides were granted permission to file further evidence. He did not say when the next hearings would be held.


A spokesman for one of the plaintiffs said a hearing of the case brought by U.S. investment fund Cambridge Capital Management, which owns 17.2 percent of Novolipetsk shares, was scheduled for April 23.


The U.S. investors claim management refused to consider their nominees to the board of directors and that one was stripped it of its shareholder voting rights last year by the factory.