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. Last Updated: 07/27/2016

Probe Into Yukos Share Issues Continues




The Federal Securities Commission said Wednesday it was still investigating oil company Yukos and had not received documentation of share issue s approved by subsidiaries at contested meetings.


Minority shareholders have accused Yukos of violating their rights, which Yukos has denied, sparking the investigation.


"We have begun an investigation into allegations about Yukos, and the investigation in question continues," said Vadim Belov, spokesman for the commission.


He said Yukos units Yuganskneftegaz, Samaraneftegaz and Tomskneft had not requested registration of issues approved by March annual meetings, which some minority shareholders contested after effectively being locked out.


"No new documents have been received by the federal commission. We have not received the documents from the companies," Belov said.