WARSAW, Poland (March 12)—A feud between minority shareholders of Polish tire maker Stomil Olsztyn S.A. and majority owner Groupe Michelin will go to the courts, Michelin said. The French firm decided to file suit over shareholder allegations that it is putting its interests ahead of Stomil Olsztyn´s profitability. The decision to pursue a lawsuit was made after the allegations were repeated to the media following an extraordinary general meeting of Stomil shareholders, a Michelin spokeswoman said. At the meeting, Michelin had conceded to demands for an independent review of its business relationship with Stomil, the spokeswoman said. "Michelin has decided that enough is enough and is seriously considering legal action concerning defamation," she said. Michelin also will ask the Polish stock exchange commission to investigate if there was manipulation of Stomil Olsztyn share price, according to the spokeswoman. Michelin owns 59 percent of Stomil.
Michelin plans to sue Stomil shareholders
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