The judge ruled that the social network is not responsible for the content uploaded by its users.
In November 2014, the head of The Federal Service for Supervision of Communications, Information Technology and Mass Media, Maxim Ksenzov, said that Vkontakte will complete the process of legalization of the content at the beginning of 2015.
Founder and CEO Pavel Durov owned 20% of shares (although he had majority voting power through proxy votes), and a trio of Russian-Israeli investors, Vyacheslav Mirilashvili (Mikhael Mirilashvili's son) and Lev Leviev, On Group announced that it has decided to yield control of the company to Durov by offering him the voting rights on its shares.
Combined with Durov's personal 12% stake, this gave him 52% of the votes.
while Lev Leviev sold his 8% share in the same deal, giving United Capital Partners 48% ownership.
In January 2014, VK's founder Pavel Durov sold his 12% stake in the company to Ivan Tavrin, the CEO of Mega Fon, which is controlled by Alisher Usmanov.
Danielle is a Junior Reporter at Global Dating Insights.
Originally from Reading, she has studied Multimedia Journalism at Bournemouth University and has a passion for writing and reporting.
Following the deal, Usmanov and his allies controlled around 52% of the company.
On April 1, 2014, Durov submitted his resignation to the board; at first, due to the fact the company confirmed he had resigned, it was believed to be related to the Ukrainian crisis which started in February of the same year.