Court orders CMA to pay Cytonn Sh10.5m for defamation

Cytonn, which filed the lawsuit in 2021, accused the two of making remarks during an interview aired on NTV’s YouTube channel and issuing a press statement that warned investors against investing in unregulated products offered by entities such as Cytonn. Kenya breaking news | ..

✨ Key Highlights

The Milimani High Court has ordered the Capital Market Authority (CMA) and its Chief Executive Officer (CEO), Wycliffe Shamiah, to pay Cytonn Investments Management PLCSh10.5 million in damages for defamation.

Cytonn was awarded Sh10 million for general damages and Sh500,000 for aggravated damages.
The defamation stemmed from statements made by the CMA and Shamiah in 2021, which Cytonn argued falsely implied unlawful fundraising.
The court found that some remarks went beyond the legal framework, implying criminal activity despite the existence of unregulated private investment arrangements.

Continue Reading

Read the complete article from Capital Business

📰 Read Full Article

Related News

top2w ago

High Court Orders Govt to Pay Former MP Ksh 30M in Rights Case

The High Court has ordered the Kenyan government to pay former Member of Parliament Basil Criticos Ksh30 million in compensation for the destruction of his sisal farm over two decades ago.

Kenyans

📰 Read Full Story

top1w ago

Ruto orders KNHCR to develop compensation plan for protests victims

President William Ruto has directed the Kenya National Commission on Human Rights (KNCHR) to develop a framework for compensating victims of protests within 60 days.

The Standard

📰 Read Full Story

business1w ago

Trade court orders tariff refunds in setback for Trump administration

A U.S. Court of International Trade has ordered Customs and Border Protection to issue refunds for tariffs previously imposed by President Donald Trump under the International Emergency Economic Powers Act (IEEPA). This ruling follows the Supreme Court striking down these levies last month.

Capital Business

📰 Read Full Story