Dismissal of 10 mln euro lawsuit against mobile services provider appealed
MOSCOW, March 20 - RAPSI. Businessman Yevgeny Grafeyev has challenged the Moscow Commercial Court's decision to dismiss his lawsuit to return shares and recover 10 million euro in moral damages from the MTS mobile operator.
The court dismissed his lawsuit in November.
The appeals court upheld the judgment on March 5 and it became effective.
According to Grafeyev, he entered into a contract with MTS on August 17, 2001. Pursuant to the contract, he sold 1,250 preferred and 250 common shares in Mobile Communications Systems for 4.668 million rubles ($159,000).
The businessman seeks to invalidate the contract, return his shares and recover moral damages.
Grafeyev maintained that he was tricked and forced into signing the contract as the company threatened to increase its charter capital, thus diluting his stake. He estimated his aggregate losses at 21 million euro.