NY-BOIES-SCHILLER-FLEXNE
U.S.-based asset manager, Kingstown Capital Management L.P. and Investhold Ltd. (“the Plaintiffs”) today announced its appeal against the decision of the U.S. District Court for the Southern District of New York to dismiss a Racketeer Influenced and Corrupt Organizations Act (“RICO”) lawsuit filed in April 2019 against Czech oligarch, Radovan Vitek, and other co-conspirators.
In a decision of first instance, the court ruled that it is more appropriate for the lawsuit to be pursued in a European jurisdiction as opposed to in the United States. The court did not take into consideration the merits or legitimacy of the plaintiffs’ claims, at the heart of which allege a long-running scheme on the part of Vitek, a Forbes billionaire with business interests throughout Europe, and his co-conspirators to defraud and engage in other criminal conduct.
The claim details a series of racketeering activities, including wire fraud, mail fraud, money laundering and other crimes, enabling Vitek to make billions of dollars at the expense of the Plaintiffs. Detailed in the complaint also are the efforts of Vitek to covertly grow his scheme into an extensive international conspiracy over a period of a decade.
Matthew L Schwartz, a partner at Boies Schiller Flexner LLP and counsel to the plaintiffs, said: “Our clients are committed to seeing justice done and we are fully confident in the merits of the case, which were not dealt with in the court’s decision. We maintain that the U.S. District Court for the Southern District of New York is an appropriate forum for these claims to be heard and are appealing on this basis.”
The complaint states that in 2017, the Luxembourg financial regulator, Commission de Surveillance du Secteur Financier (“CSSF”), launched an investigation into Vitek, Jean-Francois Ott, and CPI Property Group and found that “Vitek and Ott had ‘acted in covert concert,’ secretly controlled real estate company ORCO, and therefore violated Luxembourg and European law.” As a result the CSSF fined Vitek and Ott for market manipulation infringements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201009005350/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Twilio’s Latest Report Highlights Conversational AI’s Rapid Adoption, Challenges, and Perception Gaps13.11.2025 15:00:00 CET | Press release
Survey data shows a 31-point satisfaction gap between business leaders’ beliefs and consumers’ experiences with conversational AIWithin the next year, 59% of organizations expect to fully replace the conversational AI solution they have in place todayMore than 70% of consumers claim they can identify an AI agent, but 90% failed to do so correctly Twilio (NYSE: TWLO), the customer engagement platform that drives real-time, personalized experiences for today’s leading brands, today released its Inside the Conversational AI Revolution report.1 Based on a global survey of 457 business leaders and 4,800 consumers across 15 countries, the report unearths major trends related to conversational AI’s adoption, perceptions, and expectations, including a finding that 99% of organizations anticipate their conversational AI strategy will change in the next 12 months. “Businesses that want to successfully deploy conversational AI for customer service, sales, and marketing need to prioritize customer
Safe Software Ahead of Target to Reach $250M in Revenue by 202813.11.2025 15:00:00 CET | Press release
The All-Data, Any AI Integration Leader Achieves Centaur Status as it Crosses $100M in Revenue Safe Software (Safe), the creator of FME, the only All-Data, Any-AI enterprise integration platform with true support for spatial data, today announced strong business momentum and continued progress toward its goal of reaching $250M in revenue by 2028. Building on another year of record performance, Safe Software is ahead of its target, surpassing $100M in annual revenue in FY25, representing nearly 20% year-over-year growth. “Crossing $100M is more than a financial milestone, it’s testament to the significant value FME delivers for our customers every day,” said Don Murray, CEO of Safe Software. “As we advance toward $250M, we remain committed to empowering organizations to unlock the full potential of their data through open, scalable, and intelligent solutions” The company’s employee base increased by 21.8% over the fiscal year, reflecting strategic investments in its people, culture, and
Doha Debates Asks: Is ‘Earned Success’ an Illusion?13.11.2025 14:55:00 CET | Press release
Global thinkers and students in Doha engage in a spirited debate over fairness, privilege and the meaning of success. Can success ever be truly earned? In its latest flagship episode, Qatar Foundation’s Doha Debates brings together global thinkers and students for a thought-provoking conversation on whether hard work and talent still determine who rises, or whether “earned success” conceals deeper inequities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251113305464/en/ Doha Debates brings together global thinkers and students for a thought-provoking conversation on whether hard work and talent still determine who rises, or whether “earned success” conceals deeper inequities. (Photo: AETOSWire) Daniel Markovits, Guido Calabresi Professor of Law at Yale Law School, argues that the system meant to promote fairness has instead entrenched inequality. “Meritocracy has become the principal obstacle to equality of opportunity, at
FlightSafety International Announces Release of Industry-Wide Airplane Standard Operating Procedures to Elevate Safety in Business Aviation13.11.2025 14:45:00 CET | Press release
The manual represents the culmination of years of shared commitment by FlightSafety and industry partners to elevate safety. FlightSafety International Inc. today announced the publication of the Airplane Standard Operating Procedures Manual, a landmark resource that establishes consistent, proven practices for business aviation operations worldwide. Developed in collaboration with the National Business Aviation Association (NBAA), aircraft manufacturers, operators, and other leading training experts, the SOPs represent years of industry partnership dedicated to advancing aviation safety. The new manual provides uniform guidance for both single- and multi-pilot operations, reflecting best practices drawn from organizations of all sizes. By promoting widespread adoption of standardized procedures, the SOPs will strengthen consistency across fleets, enhance safety in dynamic crew environments, and generate valuable data to inform future training improvements. “FlightSafety International
Experian Named One of the World’s Best Workplaces™ for Second Consecutive Year13.11.2025 14:12:00 CET | Press release
Experian has once again been recognised by Fortune and Great Place to Work® as one of the World’s Best Workplaces™ 2025, marking its second consecutive year on this prestigious global list. This honor places Experian among the top 25 companies worldwide celebrated for exceptional workplace culture, inclusivity, and employee experience. These 25 global leaders were selected from organizations that participated in Great Place to Work’s employee survey process, with over 9 million responses representing more than 25 million employees worldwide. To be considered for the list, companies must have 5,000 or more global employees, be identified as outstanding global employers with recognition on at least five Best Workplaces™ Lists in Asia, Europe, Latin America, Africa, North America, or Australia in 2024 or early 2025. “This award recognizes our people-first culture and our commitment to creating an environment where everyone can thrive,” said Brian Cassin, Experian Chief Executive Officer.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom