Does it make more sense to register for the KapMuG proceedings or to file a lawsuit against EY now?
There is no way around filing a lawsuit, even if you only file your claims for the KapMuG proceedings for the time being. Filing for KapMuG proceedings only postpones the time which the action is filed. This is because after the KapMuG proceedings have been successfully concluded, every applicant for the KapMuG proceedings must still fila a lawsuit in order to assert his or her claims. However, anyone who does not file suit until after the conclusion of the model proceedings thus loses valuable time. We therefore advise filing an action now and thus becoming a party to the model proceedings.
In principle, only investors who are not already parties to the KapMuG proceedings by virtue of having filed their own lawsuit may register for the KapMuG proceedings. By filing for KapMuG proceedings, the stuatue of limitations is merely suspended without any further examination of the filed claim by the court. However, with regad to the Wirecard model proceedings, there is a risk that the claims for damages against EY could not be filed in order to suspend the statute of limitations because they are not yet the subject of the test case.