The Moscow City Court has rejected a complaint filed by Axel Springer Russia publishing the Russian edition of Forbes against a defamation lawsuit filed by Rosneft CEO Igor Sechin, a TASS correspondent reported on Tuesday.

On August 1, the Savyolovsky District Court ruled that Forbes should delete information in its publications which create the negative image of the oil company’s president.

In May, Sechin lodged a lawsuit against the Russian edition of Forbes demanding to retract reports that Sechin earned $50 million 2012 and secured a loan from Gazprombank to fund a purchase of Rosneft stock.

The lawsuit was filed against Axel Springer Russia, four Forbes journalists and also Russia’s Komsomolskaya Pravda newspaper which posted these controversial publications on its website, but later deleted them.