Abu Dhabi-based Eshraq Investments has officially confirmed that it has initiated legal proceedings with the Abu Dhabi Public Prosecution concerning its acquisition of shares in Goldilocks Investment Company Limited. The company’s move follows a period of market speculation regarding the transaction. According to a disclosure filed with the Abu Dhabi Securities Exchange (ADX), the legal action stems from the discovery of share pledges that were allegedly not revealed to shareholders during the company’s General Assembly meeting in April 2022.

Eshraq clarified that the situation is currently being reviewed by the Public Prosecution and has not yet escalated to formal litigation in court. The company emphasized that it is still exploring all necessary legal avenues to address the matter. This update was provided at the request of the ADX to quell ongoing rumors and ensure transparency. As the UAE continues to tighten its corporate governance standards, this development highlights the growing regulatory emphasis on protecting shareholder rights and the critical importance of full disclosure in major financial transactions.