NY-BOIES-SCHILLER-FLEXNE
9.10.2020 15:34:11 CEST | Business Wire | Press release
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
Curatis: Double-Digit Revenue Growth in 2025 and Major Milestones for Corticorelin Achieved24.3.2026 07:00:00 CET | Press release
Curatis Holding AG (SIX:CURN, “Curatis”) reports business revenues of CHF 10.8m (+57%) for 2025. Curatis AG increased sales in its distribution business organically by 13%, from CHF 9.5m to CHF 10.8m. The net result improved from a loss of CHF 4.3m in 2024 to a loss of CHF 1.4m in 2025. Further key statements In September 2025, our development plan for corticorelin was validated at a meeting with the FDA, enabling Curatis to proceed toward a regulatory submission supporting a pivotal study in patients suffering from peritumoral brain edema (PTBE). In November 2025, Curatis raised CHF 1.2m to progress corticorelin. The cash position as of year end 2025 was comfortable, standing at CHF 1.9m. Recently, Curatis announced a license agreement for corticorelin for Japan with significant milestone payments. Business development and finances In 2025, product sales amounted to CHF 10.3m, while service revenue amounted to CHF 0.5m. On a full year basis, Curatis AG increased revenues in its distri
AAD 2026: Galderma Showcases Latest Evidence Supporting Its Full-Spectrum, Science-Driven Solutions for Diverse Skin Needs24.3.2026 07:00:00 CET | Press release
From its Therapeutic Dermatology portfolio, Galderma will present data on the efficacy and safety of Nemluvio® (nemolizumab) in different patient populations with moderate-to-severe atopic dermatitis, including late-breaking data in pediatric patients, and share four posters on AKLIEF® (trifarotene)1-8 Additional presentations related to Dermatological Skincare will explore how artificial intelligence can identify high-risk factors for sensitive skin and Cetaphil® in different skin types9 Data from Galderma’s Injectable Aesthetics portfolio will also show how its hyaluronic acid injectables, Restylane®, and neuromodulator, RelabotulinumtoxinA*, may address aesthetic needs across the face and décolletage10-14 A total of 22 presentations will reinforce the value of Galderma’s broad and comprehensive portfolio in meeting varied patient needs across Therapeutic Dermatology, Injectable Aesthetics and Dermatological Skincare Galderma (SIX: GALD), the pure-play dermatology category leader, wi
Avanzanite Expands French Operations and Appoints Constance Sabbagh as General Manager24.3.2026 07:00:00 CET | Press release
Avanzanite Bioscience B.V., a rapidly growing commercial-stage European specialty pharmaceutical company focused on rare diseases, today announced its expansion into France, Europe’s second largest economy, and the appointment of Constance Sabbagh as General Manager, France. Following a €32 million Series A investment by MVM Partners announced in November 2025, Avanzanite is scaling its European infrastructure into a single, integrated platform across 32 countries – designed to bring rare disease medicines to patients in every European market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323639110/en/ Constance Sabbagh, General Manager, France “France is essential to Avanzanite’s European vision,” said Adam Plich, Co-founder and CEO of Avanzanite. “With its leadership in rare disease policy through its National Rare Disease Plans, care networks and scientific innovation, France is one of the most significant healthcare
HJS Foundation Releases JEP Protocol & HJS Framework: The "Black Box" for AI, Enabling Verifiable Human Oversight24.3.2026 04:36:00 CET | Press release
HJS Foundation (Human Judgment Systems Foundation) today released two complementary solutions: the Judgment Event Protocol (JEP) and the Human Judgment Structure (HJS) framework. As a minimalist open standard, JEP generates tamper-proof records of AI decision accountability, just like an aircraft black box; HJS embeds human judgment logic into AI operation processes — together, they transform "human oversight" from a regulatory requirement into a verifiable technical fact, providing an optional technical solution for AI accountability. How to prove that AI decisions (such as loan approvals, medical diagnoses, border screenings, etc.) have undergone human review? JEP generates immutable audit trails of human intervention through four cryptographic primitives — Judge, Verify, Delegate, Terminate; HJS builds a controllable and accountable system to prevent risks such as AI drift and ensure that human judgment guides AI operations. Current systems rely on alterable post-hoc documentation,
Power Integrations Extends Flyback Topology to Enable 440 W, Offering Simpler Alternatives to Resonant Power Designs23.3.2026 22:45:00 CET | Press release
New TOPSwitchGaN ICs more than double power output, reducing system cost, complexity, and design time APEC 2026 – Power Integrations (NASDAQ: POWI), the leader in high-voltage integrated circuits for energy-efficient power conversion, today introduced a breakthrough in flyback topology extending the power range of flyback converters to 440 W—well beyond the limits that traditionally required more complex resonant and LLC topologies. The new TOPSwitchGaN™ flyback IC family unites the company’s groundbreaking PowiGaN™ technology with its iconic TOPSwitch™ IC architecture, reducing complexity, eliminating heat sinks in many cases, shortening design time, improving manufacturability, and lowering total system cost. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260323686299/en/ The new TOPSwitchGaN™ flyback IC family extends the power range of flyback converters to 440 W—well beyond the limits that traditionally required more co
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