The Capital Markets Authority (CMA) and its chief executive officer Wycliffe Shamiah have been ordered to pay real estate firm Cytonn Investments Management Plc Sh10.5 million in damages for remarks aired six years ago about the firm.
The High Court ruled that Mr Shamiah’s statements linking Cytonn to possible “criminal” conduct misled the public and unfairly damaged the investment company’s reputation in the financial market.
