Famanet-Thomson Reuters Court Case Begins in Cyprus

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Famanet is suing Thomson Reuters for damages of up to €60 million in lost opportunities and subscriber revenue after then-Reuters terminated a data distribution deal with Famanet inherited from Reuters' 2005 acquisition of Telerate, and switched off a feed provided to Telerate terminal clients in Greece, Spain, Portugal and Cyprus via Famanet, which acted as Telerate's sales agent in the region (IMD, Oct. 29, 2010).

Famanet claims that Reuters broke European Union laws governing agreements

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