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Time and again we report on cases of unfair advertising by “investor protection law firms” or other media that are – actually or only ostensibly – committed to consumer protection.
Most recently in June 2016 here.
Playing on investors’ fears
In a recent case, an “investor protection lawyer” has once again attempted to scare investors about their investment by referring to numerous alleged arrest warrants and criminal investigations at the expense of the creditor, thus creating the need to seek legal advice from him. He had chosen the form of a “legal tip” on a lawyers’ platform for this purpose.
Since the lawyer, even after being informed of the illegality of his report, refused to issue a cease-and-desist declaration and even threatened to “escalate” the matter in any way whatsoever, an application for a temporary injunction was necessary, which the Hamburg Regional Court issued immediately (LG Hamburg, Beschluss v. 26.8.2016, Az. 312 O 397/16).
The decision of the LG Hamburg
The Regional Court followed the applicant’s argument that the defendant’s advertising was disparaging and misleading and therefore inadmissible.
In the event of non-compliance, the lawyer faces a fine of up to EUR 250,000. The decision is not legally binding. The amount in dispute was set at € 50,000.00. (la)
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