Porta denies 'unlawful conspiracy' over Media Square
Porta Communications, an AIM listed public relations firm, says it will 'defend vigorously' a legal claim made against it, and its chief executive David Wright, by rival Media Square.
Porta Communications, an AIM listed public relations firm, says it will 'defend vigorously' a legal claim made against it, and its chief executive David Wright, by rival Media Square.
Media Square announced yesterday that it had begun legal proceedings over an incident in 2009, when some of its own shareholders tried to appoint David Wright as the company's Chief Executive.
Media Square has branded the action an "unlawful conspiracy" and says disruption caused to its advertising division may contribute to it missing profit expectations. It is seeking £760,000 in damages.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In response Porta says it "absolutely refutes these claims as they are untrue and will defend them vigorously. The board of Porta also believes that any losses which Media Square may have suffered are likely to be as a result of their own actions and failings."
In a trading update, also issued today, Porta says all its divisions are trading in line with, or better than expectations.
Shares in Porta fell 12% in early trading, Media Square was down 24%, having lost 86% of its value since the start of the year.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran