It is a never-ending story with always similar episodes.
Investment law is one of the areas in which lawyers with business acumen and few scruples can quickly earn a lot of money.
Due to the often high investment sums, there are numerous potential clients whose “support” does not require individually coordinated legal work in individual cases due to the comparability of the cases, but can often be “provided” with the help of ready-made letters and statements of claim.
In addition, many investors have legal expenses insurance that covers the costs of legal advice – regardless of its success.
The basic prerequisite for the money blessing is, of course, a case – preferably a scandalous one – in which as many investors as possible would like to be advised out of court or, at best, represented in court proceedings. If such a case does not exist, the resourceful “investor protection lawyer” does everything in his power to create one.
In a recent case, an “investor protection law firm” already known to us from numerous other cases described the business model of an issuing house as “dubious” for no reason and in the blue in order to persuade existing and potential investors to seek legal advice.
Following an unsuccessful warning, the Hamburg Regional Court immediately issued an injunction for unfair, disparaging advertising (LG Hamburg, Beschluss v. 22.12.2015, Az. 312 O 534/15). The law firm faces a fine of up to EUR 250,000 for non-compliance. The decision is not final. The amount in dispute was set at EUR 100,000.
Lawyer Arno Lampmann from the law firm LHR:
“It cannot be said often enough. Sometimes there are good reasons to doubt the prospects of success of an investment. These do not even have to be due to bad faith on the part of the provider. It is therefore often advisable to seek legal advice. However, the persistence with which certain law firms advertise for mandates in disregard of basic legal regulations also shows how lucrative the “investor protection” business area is. Lawyers earn their fees regardless of the outcome of the “advice” they provide, which is often also covered by legal expenses insurance. It is therefore all the more pleasing that the courts are taking the interests of the companies concerned seriously and are putting an immediate stop to such unlawful measures.
(la)
(Bild: © bennymarty – Fotolia.com)
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