OREANDA-NEWS. PhosAgro (Moscow Exchange, LSE: PHOR), one of the world’s leading vertically integrated phosphate-based fertilizer producers, states that Alexander Gorbachev, a former employee of the Company, has issued proceedings against the Company, members of the Board of Directors Andrey Guryev and Igor Antoshin, and a number of the Company’s shareholders (being individuals and entities), in the district Court of Limassol in Cyprus, requiring the Court to declare that the respondents have unlawfully deprived him of his right to ownership of shares in PhosAgro.

The PhosAgro legal department stated: “We believe that these claims have no legal basis, and that Mr. Gorbachev’s sole aim in launching this case is to damage the Company’s reputation.  

“We are absolutely confident in our position and we are fully prepared to defend it in any jurisdiction where these claims may arise.”