YPF Investors Ask Supreme Court to Revive $16B Argentina Judgment
YPF has more than doubled off its 52-week low of $23.02.
Summary
Former YPF shareholders have petitioned the U.S. Supreme Court to review a Second Circuit ruling that overturned a $16 billion judgment against Argentina. The petition, dated September 30, argues the appeals court misinterpreted Argentine law and ignored investor protections from YPF's 1990s privatization. Argentina maintains the ruling was correct and will continue to defend. This is a new development in a decade-long litigation that could restore a massive liability for Argentina, though the Supreme Court accepts few cases. The outcome remains uncertain, but the filing itself is a material legal step for YPF's investment thesis.
At the time of this announcement, YPF was trading at $49.27 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $20.9B. The 52-week trading range was $23.02 to $57.87. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.