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More Victims of the New Economy: Ad Hoc-Publicity and Protection of Shareholders

Published online by Cambridge University Press:  06 March 2019

Andreas Maurer

Extract

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For the first time in the \“New Market\”\'s history, a claim for damages against Infomatec, a NEMAX-company has been ruled in favor of plaintiff. Nemax is the index in which New Market companies are quoted. On September 26, 2001, the Landgericht (Regional Court) Augsburg granted a compensation worth DM 100.000 for a former shareholder of Infomatec [\“company\”]. This article will first give a brief survey of the facts as well as an explanation of the so-called \“Ad Hoc-notifications\” under German securities law before outlining the Court\'s holding.

Type
Research Article
Information
German Law Journal , Volume 2 , Issue 16: Special issue – The Future of Public International law in Light of the Events of September 11th , 2001 , E8
Copyright
Copyright © 2001 by German Law Journal GbR 

References

(1) The case (Az.3 4995/00) is not yet officially published. However, a first version – not yet fully formatted, according to the Court — can be found under: http://www.justiz-augsburg.de/lg/infomatec1.htm (last visited 29 September 2001).Google Scholar

(2) The Infomatec Ad hoc-Notification can be found under: http://www.managermagazin.de/geld/oldarticle/0,2828,148660,00.html Google Scholar

(3) BUNDESTAGS-DRUCKSACHE 12/6679, p. 48.Google Scholar

(4) Vaupel, WERTPAPIER MITTEILUNGEN, 1999, p. 521, 532.Google Scholar

(5) The difference between those provision persists among other things in the preconditions of the obligation to publicity: § 44a BoersG required an effect on the assets and financial position while § 15 WpHG only requires an effect on the assets or financial position (Weber, NEUE JURISTISCHE WOCHENSCHRIFT, 2000, p. 3461, 3463).Google Scholar

(6) Weber, NEUE JURISTISCHE WOCHENSCHRIFT, 2000, p. 3461, 3463.Google Scholar

(7) See press release of Landgericht Muenchen 21/08/2001: http://www.justiz.bayern.de/lgmuenchen1/presse/presse.html Google Scholar

(8) See: http://www.manager-magazin.de/geld/oldarticle/0,2828,159057,00.html Google Scholar