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Stock impact report

U.S. judge rejects Greece bid to dismiss Sotheby's lawsuit over bronze horse [Reuters]

SOTHEBYS (BID) 
Last sothebys earnings: 5/2 07:00 am Check Earnings Report
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Company Research Source: Reuters
U.S. judge rejects Greece bid to dismiss Sotheby's lawsuit over bronze horse - Reuters 3 Min Read NEW YORK (Reuters) - A U.S. judge on Friday rejected Greece’s effort to dismiss an unusual lawsuit in which Sotheby’s and the owners of an ancient Greek bronze horse sued the country, seeking court permission to put the statue on the auction block. U.S. District Judge Katherine Polk Failla rejected Greece’s claim that she lacked jurisdiction under the Foreign Sovereign Immunities Act, saying the case triggered an exception for “commercial activity” that allowed Greece to be sued. Greece had argued that the case should be dismissed, warning that a broad interpretation of the commercial activity exception “would have a chilling effect on the ability of foreign sovereigns to protect their cultural heritage.” Leila Amineddoleh, a lawyer for Greece, said “we’re obviously disappointed” with the decision, adding that the country may appeal. Gary Stein, a lawyer for Sotheby’s, declined to comment Show less Read more
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