DRRT's Global Loss Recovery Blog

119 institutional investors, accused the French company Vivendi of having disseminated false or misleading information between 2000 and 2002, thereby causing them an important stock market damage.

As part of DRRT's continued support for the Boys & Girls Clubs of Miami-Dade, DRRT recently participated in the 13^th Annual Claws For Kids event. 

The enactment of the German Capital Markets Model Case Act (Kapitalanleger-Musterverfahrensgesetz – KapMuG) in 2005 was intended to make it easier for shareholders and investors to bring claims based on false, misleading, or omitted public information by publicly traded companies. In the nearly twenty years since its inception, only a handful of cases in Germany have concluded for the benefit of investors, mainly the historic Deutsche Telekom and Hypo Real Estate settlements in which DRRT player a major role. The Court’s open interpretation of the requirements to prove standing has increased the complexity and time horizon of cases. However, recent developments allow investors to gain confidence in the German system. 

On Wednesday, February 7, 2024, over 130 institutional shareholders served ING Groep NV (“ING”) and certain former directors of ING with a writ of summons claiming over €600 million in damages caused by ING’s failure to properly inform the market of material information relating to ING Bank N.V.’s (“ING Bank”) alleged corrupt practices and violation of anti-money laundering laws.  This lawsuit follows the €775 million fine ING paid to the Netherlands Public Prosecution Service (Openbaar Ministerie) (the “NPPS”) in 2018 for violations of anti-money laundering laws.

DRRT is launching an update to its Global Investor Protection System (GPS).

Launched in 2011, DRRT's GPS provides investors with a comprehensive view of all securities loss recovery matters worldwide.

The recent DRRT settlement with Hypo Real Estate Holding was recently featured in The D&O Diary. 

Das seit Januar 2009 anhängige Gerichtsverfahren zwischen DRRT-Rechtsanwalt Christian Wefers - als Musterkläger für über 100 DRRT Mandanten - und der HRE wurde nunmehr erfolgreich verglichen und schreibt damit Geschichte für Musterverfahren nach dem Kapitalanleger-Musterverfahrensgesetz (KapMuG). Dieser Vergleich folgt der vergleichsweisen Beendigung des Telekom-Musterverfahrens im Jahr 2021, welches das erste, große deutsche Kapitalanlegermusterverfahren war und seit 2001 lief.

The court proceedings pending since January 2009 between DRRT attorney Christian Wefers – as model plaintiff for more than 100 DRRT clients – and HRE have now been successfully settled, making history for model proceedings under the German Capital Markets Model Case Act (KapMuG). This settlement follows the settlement of the Telekom model proceedings in 2021, which were the first major German Capital Markets model proceedings and had been ongoing since 2001.

DRRT was delighted to host its 12th Annual Global Investor Loss Recovery Conference in Frankfurt on May 12 and 13. Among the speakers, we were honored to have Mr. Kevin LaCroix, author of the popular The D&O Diary. Mr. LaCroix posted a blog post highlighting his time in Germany. We invite you to visit The D&O Diary. 

In another example of DRRT's commitment and support of our local community in the challenging times surrounding the COVID-19 pandemic, DRRT made a financial contribution of the Boys and Girls Clubs of Miami-Dade in late April 2020. The contribution will allow The Boys and Girls Clubs of Miami-Dade to continue serving the younger citizens of our community during these challenging times.

DRRT will continue to support our local community and we thank our clients who make this possible.