Germany’s Mini-Madoff: Barclays Sued in Frankfurt, Munich under Revised KapMuG

According to  press reports, some sixty retail investors are suing Barclays in Frankfurt over certificates issued by Barclays that related to Helmut Kiener’s Ponzi scheme. Similar actions are being brought in Munich. If I am not mistaken, then this is the first large-scale litigation where the German plaintiff bar tries to establish a model procedure under the extended scope of the revised Capital Market Investors’ Model Proceedings Act (KapMuG) that came into force in November 2012 –  or perhaps even the first one overall.  Continue reading

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