The nation's first to process papers to the insolvent U.S. bank Lehman Brothers is the investor with his plea failed. The Savings Bank in Frankfurt had advice of the man made no mistakes, the District Court of Frankfurt. The plaintiff's lawyer announced on appeal. Other representatives of Lehman-injured stressed the individual nature of the decision.
Of the 76-year-old plaintiff had on the advice of the Savings Bank at the end of 2006 jointly with his wife 12 000 euros in a complicated Lehman paper inserted and early sued, as the performance of his ideas are not represented. As the action has already expired, he suffered from the insolvency of the U.S. bank in September 2008, a total loss of money created.
"A loss at the time seemed relatively unlikely," said the judge. Finally, the issuer was one of the most prestigious banks in the world. Therefore, the savings would have only minimal requirements for an indication of a possible total loss of investment be made. The expectation of complete safety also contradicts the experience of life: "Completely excluded a loss as good as ever." The advice should also meet investors, because the customer specifically a relatively safe, but at the same time, anytime tradable paper had requested, said the judge continued. Part of the advice were also written documents that the savings were over. There was the possibility of total loss "fairly thin" has been advised. The statement of the investment adviser that it was virtually excluded, the judge assessed as "personal opinion". If anything is unclear, the investors must ask questions. On the question of hidden commissions Interior said he did not.
Of the 76-year-old plaintiff had on the advice of the Savings Bank at the end of 2006 jointly with his wife 12 000 euros in a complicated Lehman paper inserted and early sued, as the performance of his ideas are not represented. As the action has already expired, he suffered from the insolvency of the U.S. bank in September 2008, a total loss of money created.
"A loss at the time seemed relatively unlikely," said the judge. Finally, the issuer was one of the most prestigious banks in the world. Therefore, the savings would have only minimal requirements for an indication of a possible total loss of investment be made. The expectation of complete safety also contradicts the experience of life: "Completely excluded a loss as good as ever." The advice should also meet investors, because the customer specifically a relatively safe, but at the same time, anytime tradable paper had requested, said the judge continued. Part of the advice were also written documents that the savings were over. There was the possibility of total loss "fairly thin" has been advised. The statement of the investment adviser that it was virtually excluded, the judge assessed as "personal opinion". If anything is unclear, the investors must ask questions. On the question of hidden commissions Interior said he did not.
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