In the Kapitanleger model case for the third IPO of Deutsche Telekom AG in 2000, a settlement is looming that will end the legal dispute after 13 years.
As the Higher Regional Court (OLG) Frankfurt announced, a "completely new settlement proposal" will be discussed on Tuesday next week, supported by the model plaintiff, well-known investor representatives, the Telekom as well as the federal government and the reconstruction credit institution.
Because the original order for reference by the Frankfurt Regional Court dates from 2006 and the original law for model proceedings still applies to the Telekom proceedings, the parties have to appear again before the Senate for a settlement.
Marcus Jung
Editor in business.
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For plaintiffs who bought Telekom shares between May 27, 2000 and December 19, 2000 and whose claims are not statute-barred, the proposal should be attractive: According to the OLG, they will get the original purchase costs back in full, and dividend payments must be offset against them.
Anyone who has resold their shares in the meantime should receive the difference between the previous purchase costs minus the resale proceeds and dividends received.
Plaintiffs who meet these requirements are expected to receive an offer by June 30, 2022.
In the entire complex, 17,000 small shareholders demanded around 200 million euros in damages.
The model plaintiff will no longer experience the presumed end of the mammoth proceedings.
He died a few years ago.