ASC won legal case with SchlumbergerABG Sundal Collier (ASC) has won a legal dispute against Schlumberger at the Oslo District Court. ASC had a role as a financial advisor during the take-over process of Eastern Echo in November 2007. After Schlumberger's take-over, the company claimed that ASC allegedly contributed to market manipulation which caused Schlumberger to pay a higher price for shares in Eastern Echo. The court has dismissed Schlumberg's claim and ordered the company to pay ASC's legal costs. - In addition to the court's conclusion, we are satisfied to note that the court as basis for its conclusion, inter alia, has dismissed Schlumberger's allegation that ASC contributed to market manipulation in the Eastern Echo shares during the take-over process, ASC writes in a press release today. Schlumberger has the opportunity to appeal the court decision. |
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