RUSSIAN INVESTORS FILE A CLASS ACTION LAWSUIT AGAINST EUROCLEAR FOR 1 BILLION

Russian private investors and regional banks are filing a class action lawsuit against the world's largest settlement and clearing system Euroclear. The amount of claims exceeds 1 billion rubles.

As Izvestia clarifies, the law firm Nektorov, Saveliev & Partners will file an application to the Moscow court on July 19.

Earlier, lawyers have already sent a pre-trial claim, in which they demand to unblock the assets of Russian citizens frozen in Europe and compensate for losses. As explained, the settlement and clearing system violated both Russian and international laws.

Recall that earlier it became known about another lawsuit against Euroclear. It was submitted by the First Management Company (previously – "Beac Asset Management"). The amount of claims is 184.8 billion rubles. In 2022, Euroclear blocked operations for Russian investors on assets that it accounted for on the account of the National Settlement Depository.

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