Alleged Russian crime boss sanctioned by Ukraine owns a major stake in US biotech firm
- “Lack of company risk disclosure would suggest to shareholders: (1) management is clueless about the company’s major investors and/or (2) management does not take their obligations to inform shareholders of risks seriously,” Bloxham wrote in an email to CNN.
- Asked if Humacyte plans to cut ties with Yushvaev, a company spokesperson said: “As a public company, Humacyte has no influence over who continues to buy, hold or sell shares in the company.” Yushvaev was previously a major shareholder in Lyft.
- It’s the only example I know of where a US-listed public company has a Russian oligarch sanctioned by Ukraine as one of its largest shareholders,” said Steven Tian, research director at the Yale School of Management’s Chief Executive Leadership Institute.
- “This is a minority shareholder who was one of over 150 shareholders who invested in Humacyte when it was a privately held company,” the Humacyte spokesperson said.
- By contrast, in its 2005 annual report, Wimm-Bill-Dann alerted shareholders to the criminal history of Yushvaev, who at the time was the largest shareholder in the European dairy products company.
- Ward said the impact would largely be “reputational” for the company, including raising concerns among investors, financial institutions and customers.
Weeks after Russian tanks rolled into Ukraine in early 2022, a North Carolina biotech company that has done work for the Pentagon scrambled to help civilians and soldiers wounded by the war. Nasdaq [+11576 chars]