Estonian holding company MM Grupp (MMG), owned by Margus Linnamäe and Ivar Vendelin, is bringing legal action for reputational damage in the sum of at least €2 million against media company AS Ekspress Meedia the newspaper and online news portal of which published damaging information about MM Grupp.
A news story titled "Compulsory dissolution looming over Margus Linnamäe's group" was published in the Eesti Ekspress newspaper and the Delfi online news portal on Wednesday, April 22, making a number of incorrect claims, particularly in the headline, according to MM Grupp.
"This is a malicious lie and an attempt to mislead the public, which is particularly deplorable in the present crisis situation. Understandably, businesses' cooperation partners are keeping a very close eye on what is being said in the media at a time when, according to some experts, we are entering the century's biggest economic crisis, and considering this, producing such fake news is all the more unacceptable," member of the management board of MM Grupp Margus Kahri said.
"MMG is clearly one of the biggest and strongest business groups in the Baltics and its wide range of activities from healthcare to entertainment guarantee the group's stability and strong financial profile," Margus Linnamäe said.
By publishing incorrect information, Ekspress Media has caused reputational damage to MMG. MMG is seeking compensation before the court from Ekspress Grupp for damage to its reputation in the amount of €2 million, as well as compensation for future commercial losses caused by the news story.
UP Invest, a subsidiary of MM Grupp, via its holdings also owns news agency BNS.
Editor: Marcus Turovski