Tuesday 21 December the Oslo District Court issued its ruling on the annulations action brought by DNO International against Oslo Børs in the connection with the decision of the Stock Exchange Appeals Committee in respect of DNO’s duty to disclose information to Oslo Børs. DNO’s claim that the Committee’s decision was invalid did not succeed and the company cannot claim compensation for its legal expenditures. Oslo Børs has also been awarded its legal costs.
DNO International issued civil proceedings against Oslo Børs 17 March 2010 claiming that the Stock Exchange Appeals Committee’s decision of 17 September 2009 was invalid and that the violation charges of NOK 942 228 imposed on DNO in relation to the Committee’s ruling were to be paid back. In addition DNO claimed compensation for legal expenditures and be awarded the legal costs.
The Oslo District Court has today issued its ruling on the civil proceedings and DNO International was not successful in any of its claims. DNO International is also judged to cover Oslo Børs’ legal costs.