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.