News / CEVA staff say they were 'press-ganged' into investment that lost them thousands

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Relations between CEVA’s shareholder, Apollo Global Management, and the logistics company’s staff have been dealt a severe blow after an equity share scheme saw many employees lose their investments.

In April, CIL Ltd, formerly known as CEVA Investments Ltd, petitioned for liquidation in the Cayman Islands, shortly before CEVA announced a financial restructure. The shares in CIL, which were owned by CEVA and former TNT and EGL staff, as well as other investors, lost all value upon liquidation.

A small group of ...