Yes Bank saves $7.5 mn as UK judge agrees with its meaning of 'financing' term

Yes Bank won a $7.5-million lawsuit filed by Cantor Fitzgerald after a London High Court judge agreed with the Indian bank's interpretation of the word 'financing'. While the US-based bank claimed that the word included follow-on public offering, Yes Bank said 'financing' was restricted to private offerings. "[It's] not an abstruse rule...known only to specialist grammarians," the judge said.