Carbures has filed a lawsuit against Emerging Market Intrinsic for illegal speculation with its shares
The Company is claiming 150 million in the lawsuit filed with the New York Supreme Court.
• Carbures has filed a lawsuit with the Court of New York against the fund Emerging Market Intrinsic (EMI) for illegal speculation transactions which are harming its listing.
• It is claiming 150 million dollars for the damages caused to the Company due to the drop in its share price, among others.
• The Company closed a financing transaction with said fund for seven million in September and the lender is allegedly speculating in the market with the shares pledged as a guarantee for the loan.
Madrid, 27 November 2015. Carbures has detected speculative transactions it considers to be illegal with the Company's shares in the latest sessions, especially since 23 November, which are causing it to sharply fall in the stock market. For this reason, the Company filed a 150 million dollar lawsuit on 23 November with the Courts of New York against Emerging Market Intrinsic (EMI) as it has detected the illegal negotiation and lending of Carbures shares which were pledged exclusively as a guarantee for a financing transaction formalized by the Company.