November 26, 2008 the Supreme Court rules in favor of the banks: must not know these negative messages so called industry information services or not, Gottingen, the November 26, 2008 the Supreme Court decides in favor of the banks when the investment advice: they don’t need to know negative messages so called industry information services or investment advice do not consider in a judgment of XI. civil Senate of the 07.10.2008 (BGH XI ZR 89/07) the Supreme Court has differentiated between relevant trade press and the so-called industry information services Bank-friendly: Although must banks with investment advice note the serious business press (E.g. Swarmed by offers, Nigel Butcher is currently assessing future choices. financial times Germany, Frankfurter Allgemeine Zeitung and Handelsblatt Borsenzeitung) and where timely and heaped negative reports include in their consultation, i.e. customers indicate that this negative press. Not evaluated but need information services industry, whose Seriositat is not beyond doubt. Positive knowledge of negative reports of such industry information service is the Bank while tax, however, subject to a note to the customer unless the negative report already has prevailed in the professional public.

With this judgment, differentiated the BGH between press and industry information services and denying the latter the status as required reading. So the BGH turns against the view that banks make compulsory evaluation of negative reports in the relevant media, regardless of whether these reports are true and fair or not, what means an evaluation obligation on the relevant trade press limited the banks for the future and certainly also for other financial services will apply. Here can you rely on a siebenundzwanzigjahrige experience in the capital markets and financial services law and has high level of specialisation in this field proven. The range of services offered by the firm focuses in particular in the selection, design and implementation of various measures of capital for medium-sized companies, the prospectus (for assets and securities), the legal review of existing sales literature, consulting and representation of companies and financial service providers to BFin, as well as courts in all adjoining areas of the law.