SKI’s Shareholders Stage Another Protest

For the second time this year, a group of shareholders of Electricity Meter Manufacturing Company staged a protest in front of the building of Tehran Stock Exchange on Saturday morning. The protestors held up placards and called for judicial action in what is said to be a financial fraud case, Bourse Press reported. The company, also known as SKI, has had its shares at TSE frozen for a year now over what market officials describe as publishing false financial reports. SKI’s promised growth had caused its shares to soar over the past few months and eventually drop and freeze, as allegations of fraud spread among investors. According to TSE’s deputy head, Ali Sahraei, SKI’s Managing Director Seyyed Ali Ameli is currently behind bars and the company’s case has been referred to the court.SKI’s shareholders held their first protest back on July 2 when they brought trading to a halt for a few hours and only left after police intervened.