Laxey sued for libel in Hirco spat.
Investors Chronicle - magazine and web content, April, 2009
Byline: Claer Barrett
TIP UPDATE: Libel writ issued against activist a week ahead of Laxey-proposed EGM
A project company of Aim-traded Indian property developer Hirco has issued a libel writ against activist investor and 10 per cent shareholder Laxey Partners. The moves comes a week ahead of a showdown at an emergency general meeting (EGM).
Hiranandani Palace Gardens, an investment vehicle of Hirco and the Hiranandani group, has demanded that "highly libellous statements" made by Laxey in a letter to shareholders and other publications be retracted, and "substantial compensation" awarded for reputational damage.
Laxey has publicly criticised...
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