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- Title
Kein Anspruch auf Schadensersatz aus Amtshaftung oder unionsrechtlichem Staatshaftungsanspruch gegen BaFin („Wirecard").
- Abstract
The Federal Court of Justice (BGH) has ruled that there is no claim for damages against the Federal Financial Supervisory Authority (BaFin) in connection with the Wirecard balance sheet scandal. The measures taken by BaFin regarding market abuse monitoring and balance sheet control were justifiable. A plaintiff who had acquired shares in Wirecard AG had sued BaFin, arguing that it had violated its duties to investigate and prevent market manipulation. The district court and the higher regional court dismissed the lawsuit, and the BGH confirmed this decision. The plaintiff could not prove that the conditions for a balance sheet audit by BaFin existed in 2019. BaFin's decision to leave the balance sheet audit to the German Financial Reporting Enforcement Panel (DPR) was justifiable. BaFin has taken appropriate measures to investigate the suspicion of market manipulation by Wirecard AG.
- Subjects
FINANCIAL statements; MARKET manipulation; DISMISSAL &; nonsuit; DAMAGE claims; FEDERAL courts
- Publication
Zeitschrift für Bankrecht und Bankwirtschaft, 2024, Vol 36, Issue 3, p202
- ISSN
0936-2800
- Publication type
Article
- DOI
10.15375/zbb-2024-0306