German Federal Supreme Court

BGH defines requirements for liability lawsuits against investment intermediary Berlin, the 18.01.2013 – the German Federal Supreme Court (BGH) commented in a recent decision on the requirements, as an investor can assert breaches of duty his investment advisor or investment broker. To know more about this subject visit John Stankey. In the interests of basic rights claim to be heard”(article 103 para 1 GG) should a court in this presentation constitute to high demands, so the BGH. For the consistency of his claim for damages, the investor must present, that and how just the provider sued him has incorrectly advised or given incorrect or insufficient information. A plaintive investors is not then obliged to represent the exact wording chosen by the defendant mediator at the mediation meeting. This applies in particular after longer time. It is sufficient if investors reflects the alleged information and omissions of the agent in the core content of their content. We see this repeatedly in actions for damages against intermediaries because of allegedly faulty investment advice”, says lawyer Oliver Korn. “There are so-called investor protection attorneys” rushed blanket claims established.

“following blanket statements for example repeatedly meet: the broker had acted in any case as an investment adviser. The investment has been recommended for retirement provision. She had been portrayed as a safe investment. It was not been informed about the disadvantages and risks. The plausibility of the investment would not have been verified. For entrepreneurial investments, the mediator does not have the concept and functioning, in particular in write-offs, have informed”, reported the GPC Law Managing Director specializing in investment brokers from his practice. According to the BGH a court straddles the demands on the required statement of facts, if it requires that information on the development situation, the knowledge of the investor, the knowledge of the agent about the knowledge of the investor as well as the scope, the duration and the concrete process of consultations must be made.