Harju County Court rejected OÜ Tenlion claim against AS Baltika for compensation of unlawfully caused damages in the amount of 52,092.79 euros.
Court concluded that claim shall not be satisfied under any non-contractual bases. Court also concluded that purpose of the prohibition of market manipulation as stipulated in Securities Market Act § 18815 (1) is not to protect the aggrieved party from purely economic loss.
The court ordered OÜ Tenlion to pay litigation cost in the amount of 6,878 euros in favour of AS Baltika. OÜ Tenlion has the right to appeal the decision within 30 days of receiving the decision.
Triinu Tarkin
Financial Manager
triinu.tarkin@baltikagroup.com