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TradingScreen rejects claims by shareholder group

TradingScreen has rejected claims of legal action by a group calling itself TradingScreen Shareholders as the actions of its disgruntled former CEO.

By John Bakie john.bakie@strategic-i.com October 12, 2017 9:45 AM GMT

TradingScreen has rejected allegations against it by a group calling itself TradingScreen Shareholders.

On 11 October, TradingScreen Shareholders released a statement claiming it was launching legal action against the firm's chairman, Giampiero Grandi.

However, a TradingScreen spokesperson said the claims made against it were untrue and the actions of its disgruntled former CEO and chairman, Philippe Buhannic.

Buhannic was suspended and later dismissed from the firm last year following accusations he assaulted a member of staff.

The TradingScreen Shareholders statement said a group of shareholders claiming to represent the board was taking action due to significant corporate governance breaches that have occurred since May 2016, coinciding with the time Buhannic was suspended.

Grandi was accused of various governance breaches during his time as chair, which TradingScreen has denied.

In a statement sent to The TRADE, TradingScreen said: "neither the company nor its chair have had any notice of a suit, whatsoever, other than Mr. Buhannic's threats and related inflammatory statements."

"The other allegations are so false as to be ludicrous. They are false facts, made up to try to discredit the company and board that fired Mr. Buhannic for cause. He and his brother Patrick have brought numerous actions in the US, none of which has been successful, in an attempt to damage the company's reputation."

It added that Buhannic is not a majority shareholder and does not represent a majority of shareholders or the board of the company.