Opalenburg Vermögensverwaltung AG must repay an investor’s participation in Opalenburg funds and release them from all further payment obligations. The Stuttgart Regional Court decided on October 29, 2020 (Az .: 12 O 49/19).
“The court followed our argument that the investor was advised incorrectly and is therefore entitled to compensation,” says attorney Frederick M. Gisevius, BRÜLLMANN Rechtsanwälte, who has already repeatedly enforced claims for damages for Opalenburg investors.
Before the LG Stuttgart it was about the damage claims of an investor who had invested in the funds Opalenburg Vermögensverwaltung GmbH & Co. Safeinvest KG and Opalenburg Vermögensverwaltung GmbH & Co. Opportunity KG in 2009.
The shares were brokered for her by an employee of Medius Exclusive GmbH. However, only the advantages of a fund participation were mentioned and the risks were concealed. In particular, the investor was not informed that these are highly speculative investments with a risk of total loss. “Since my client was only interested in a secure capital investment for old-age provision, the risky investments in the Opalenburg funds were extremely unsuitable for her,” said lawyer Gisevius.
The founding partner and general partner of the funds is the defendant Opalenburg Vermögensverwaltung AG. Its board of directors also acted as managing director of Medius Exclusive GmbH. The fact that this personal interlinking could result in conflicts of interest was also not mentioned to the plaintiffs and was also not adequately presented in the issue prospectus. “If the information had been properly clarified, my client would never have subscribed to the fund investments,” explains lawyer Gisevius.
The Stuttgart Regional Court followed this argument and awarded the plaintiff damages. Opalenburg Vermögensverwaltung AG has to repay the contributions already paid and release her from further payment obligations.
As the general partner and founding partner of the funds, Opalenburg Vermögensverwaltung AG owes the plaintiff an accurate explanation of all aspects that are or may be of major importance for the investment decision. This also includes accurate, understandable and complete information about the disadvantages and risks of investing. This clarification was not made, the court explained. Likewise, no information was provided about the personal links. The fact that this can lead to conflicts of interest shows that an agio of 6 instead of the usual 5 percent was agreed. According to the Stuttgart Regional Court, there has been an increased interest in selling precisely these investments.
According to the judgment of the court, the violation of the duty to provide information was also causal for the investment decision of the plaintiff, which is therefore entitled to compensation.
Lawyer Gisevius has already repeatedly enforced damages for Opalenburg investors. The Munich Higher Regional Court rejected an appeal by Opalenburg Vermögensverwaltung AG at the end of 2019. The following non-admission complaint by Opalenburg Vermögensverwaltung AG was rejected by the Federal Court of Justice on July 21, 2020 (Az .: II ZR 288/19). “This makes it clear that Opalenburg investors have a good chance of enforcing damages,” said lawyer Gisevius.
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More information: https://www.bruellmann.de/faelle/opalenburg-vermoegensverwaltung-safeinvest-fonds/
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