Bloomberg's misstep triggers a 15% drop in ZEE's shares, leading to legal consequences

A Delhi court has ordered Bloomberg Television Production Services India to remove an article published on Zee Entertainment Enterprises on February 21. Regarding this article, Ji had argued that it was false and factually incorrect and that it was written with a premeditated and unfortunate intention to defame the company.

Ji had said in his statement, 'Due to this article, the company and its investors have suffered financial loss and due to the wrong information given in this article, the company's shares have fallen by about 15%.' Let us tell you that Zee's shares have been continuously declining for the last few days. This stock has fallen almost 50 percent from its all-time high and is working at Rs 155.30.

The article was published without facts!

Ji further said, 'Bloomberg had said in its false article that SEBI had found irregularities of 241 million dollars in the company's account, whereas nothing like this was said by SEBI. The company also strongly denied this, yet Bloomberg published a false article against Zee without taking any order from SEBI as its basis.

G's lawyer had said before the court that if his views were not listened to, the company could suffer irreparable loss and damage.

court's whip on Bloomberg!

In a relief to Zee, during the hearing of the case on March 1, Additional District Judge Harjot Singh Bhalla ruled that ZEE has made out a prima facie case for passing an interim ex-parte order of injunction. He has ordered Bloomberg to remove the defamatory article from its platform within a week of receiving the order.