Thu, Jun. 16, 2005

Precedential Case Procedure

CK - Washington. The Justice Department in Berlin issued a press release today to announce a new and experimental statute that establishes new procedures for lawsuits by investors harmed in the capital markets.

For a period of five years, investors may bring claims for damages in a precedential action to determine facts and legal issues common to numerous investors, somewhat similar to class actions in the United States. The bill, Kapitalanleger-Musterverfahrensgesetz, passed the diet, Bundestag, today and requires the approval of the upper house, Bundesrat.


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