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Court dismisses Vedomosti's lawsuit against RBC
Moscow, October 5, 2006 - On October 3, 2006, the Arbitration Court of Moscow dismissed the copyright infringement claim worth RUR282m (approx. USD10.53m) filed by ZAO Business News Media, the publisher and founder of the Vedomosti newspaper, and OOO Baltic Business Media against OAO RBC Information Systems (RTS, MICEX: RBCI).
In December 2005, ZAO Business News Media and OOO Baltic Business Media initiated a lawsuit against OAO RBC Information Systems demanding a compensation of RUR282m (approx. USD10.53m) for the illegal publication of 101 articles from the Vedomosti newspaper on www.quote.ru, an RBC-owned online resource. The case took almost a year to be examined, and in the ruling to dismiss the suit, the court agreed with RBC's arguments that the plaintiff's claim was unjustified and RBC had not violated Vedomosti's copyright.
According to Vadim Uskov, a lawyer who defended RBC's interests in court, Vedomosti intended the claim "to tarnish RBC's reputation, and this is why the claim was not against the legal entity that owns the www.quote.ru website, but against the public company." RBC's General Director Yury Rovensky added: "By waging a dirty PR campaign against RBC, Vedomosti prompted us to enter the print media market with the RBC monthly business magazine and the RBC Daily newspaper. Now, Vedomosti is faced with stronger competitors."
Investor contact: Natalia Makeeva
Tel: +7 (495) 363-1111 (ext. 1369), e-mail: ir@rbc.ru, Web: www.rbcinfosystems.com.
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