Investor receives damages from Constantia Private Bank (German)

Beratung

Investor receives damages from Constantia Private Bank (German)

17.01.2011

The previous executive board of the Constantia Private Bank has purchased large quantities of the Immofinanz shares. Such accumulation is against the regulatory banking laws in Austria and might be regarded as undue influence of the stock market. The bank has failed to disclose those circumstances to the investors of Immofinanz shares. The later publkication of the possible undue influence of the stock market has caused a crash of the Immofinanz shares and a decrease in the share price of more then 90 %. The courts have condemmed the bank to reimburse the investor for the damages suffered. The judgement has been confirmed by the appelate court and the proceeding is presently pending by the supreme court.