Russia’s Prosecutor General’s Office has moved to withdraw its asset-forfeiture lawsuit against Freedom Holding Corp. founder and CEO Timur Turlov. The Deputy Prosecutor General filed the motion with Moscow’s Tverskoy District Court on October 14. [2, 3, 4]
The lawsuit was registered on September 24, with a preliminary hearing scheduled for October 15. [3]
Freedom Holding had said it was bewildered by the legal action, noting that it fully exited the Russian market in 2022 and no longer holds assets in the country. [3, 9] The suit named Turlov, Freedom Holding Corp. and other associated entities as defendants. [7]
The move resolves recent legal uncertainty that had put pressure on the company’s stock. [11]