BGH Delivers Decisive Judgment in Landmark KapMuG Case, OLG Celle Also Dismisses Remaining Determination Requests of Model Plaintiffs as Unfounded After BGH Ruling.

Kay Rieck can record it as a remarkable legal success that the Federal Court of Justice (BGH) has confirmed his position in a protracted and complex legal dispute and could not find any prospectus errors. After years of legal disputes and a flood of lawsuits against Kay Rieck and the other ECI officials, the highest German court and, in the meantime, also the OLG Celle have finally administered justice.

Kay Rieck sees in the BGH's decision a clear affirmation of the legality of his actions in the creation of the prospectus. "This decision by the Federal Court of Justice is a milestone for jurisprudence and personally, it's a profound relief," stated Rieck. "For years, immense pressure weighed on me, but my belief in my own innocence remained unwavering and has ultimately been vindicated."

The BGH, with its decision dated 26 July 2022, and subsequently the Higher Regional Court (OLG) Celle in its decision dated 24 January 2024, have set important precedents for future Capital Investors Model Proceedings Act (KapMuG proceedings). Hundreds of legal disputes within the framework of the KapMuG proceedings, which were based on alleged prospectus errors in investments in ECI funds, have been suspended.

The decisions of the BGH and the renewed decision by the OLG Celle make it clear that the alleged prospectus errors were not substantiated. Kay Rieck was acquitted of all charges, concluding the long-standing legal confrontation in the KapMuG proceedings.

"The judgment of the Federal Court of Justice sends a strong signal that justice ultimately prevails," Rieck further stated. "I am relieved that this long journey towards justice has now successfully concluded."

With the decision of the BGH and the confirmation by the OLG Celle, all charges against Kay Rieck in the KapMuG proceedings have been nullified. This marks not only the end of a legal odyssey for the parties involved but also sets a significant precedent for similar cases in the future.

Dr. Andreas Sasdi

Rechtsanwalt, Partner

Fachanwalt fü Gewerblichen Rechtsschutz

Fachanwalt für Handels- und Gesellschaftsrecht