OAO Surgutneftegaz

Harvard University has announced that it will file a class action lawsuit against OAO Surgutneftegaz, Russia's fourth-largest oil producer. The international suit will allege that for the past six years Surgutneftegaz has intentionally denied preferred share holders up to 80% of the dividends due to them. The suit claims that the company did this using an artificially low "net profit" figure that had no relation to the company's actual net profit, and Harvard claims that its own losses due to these actions are in the "millions of dollars."

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