A court in the United States of America has dismissed a complaint alleging that the Orco Group was controlled through fraud and closed the case after more than 3 years. J&T Group, along with CPI and other legal entities and natural persons, was completely exonerated of all accusations.
The lawsuit brought by the American fund Kingstown and Investhold, a company backed by billionaires Jiří Diviš and Marek Čmejla, had already been dismissed in September 2020 by a New York District Court for reasons of insufficient evidence for deciding the dispute under its jurisdiction. The plaintiffs, however, appealed the decision. The New York Court of Appeal upheld the decision of the District Court and thus closed the case.
“From the beginning, we have pointed out that the case was unfounded and have denied any wrongdoing. We are pleased the case has been closed after more than 3 years and that J&T has been exonerated of all accusations,” comments Monika Veselá, spokeswoman of J&T group.