According to judgments by the Frankfurt Regional Court, investors have no claim for damages against the financial regulator Bafin in the Wirecard scandal.
According to information from Wednesday, the fourth civil chamber of the court dismissed the complaints of former Wirecard shareholders in four proceedings.
The judgments are not yet final.
Wirecard collapsed in 2020 after admitting bogus bookings worth billions.
The investors suffered losses as a result of the insolvency and demanded compensation of between 3,000 and 60,000 euros from the Bafin.
The investors argued that the financial regulator had not prevented market manipulation by the former Dax group and had not sufficiently informed the public.
The authorities did not adequately investigate indications of violations of the law by Wirecard AG.
However, the court came to the conclusion that, according to the statutory provisions, the Bafin performs its tasks exclusively in the public interest and not in the interests of individual investors.
"Any breach of official duties by the Bafin cannot therefore lead to an obligation to compensate an injured investor.
There is no so-called third-party protection, ”explained the court.
(Ref. 2-04 O 65/21, 2-04 O 531/20, 2-04 O 561/20, 2-04 O 563/20)
According to its own statements, the chamber responsible for questions of official liability followed a decision by the eighth civil chamber of the district court.
In November, the latter also dismissed a lawsuit filed by a Wirecard investor against the financial regulator.
(Az. 2-08 O 98/21) The plaintiff appealed to the Higher Regional Court.