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UP seeks counsel over 15% share drop
- United Arab Emirates: Wednesday, August 13 - 2008 at 09:51
Dubai-based Union Properties (UP) is looking at its legal options after a report issued by investment bank Morgan Stanley giving the company a negative rating and claiming that house prices in Dubai were likely to fall, sent its shares plummeting 15% in a week. UP has approached DFM regulator, the Emirates Securities and Commodities Authority, to see if it has any legal recourse.
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StaffWednesday, August 13 - 2008 at 09:51 UAE local time (GMT+4)
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