What is the litigation strategy?

On the basis of the cost-​benefit ana­lysis, we are com­bin­ing sev­eral plaintiffs into one law­suit each and fil­ing a class ac­tion for them by way of “sub­ject­ive ag­greg­a­tion of claims”. Sub­ject­ive ag­greg­a­tion means that sev­eral plaintiffs pur­su­ing the same cause of ac­tion can go to court to­gether. In other words, they are groups of plaintiffs, so to speak. The con­di­tions for this are met in the case of EY. Be­cause the court cost reg­u­la­tions are de­signed to be de­gress­ive, cost ad­vant­ages can be achieved with this ap­proach. We there­fore form such groups on an on­go­ing basis.

For those with legal ex­penses in­sur­ance, we re­com­mend an in­di­vidual lawsuit.

Our legal basis: BGH, Urt. v. 12.03.2020 – VII ZR 236/19. In this rul­ing, the Fed­eral Court of Justice cla­ri­fied that an aud­itor is li­able to in­vestors if his audit opin­ion is in­cor­rect and if he has ac­ted “neg­li­gently”, “reck­lessly” and “con­science­less in view of the sig­ni­fic­ance for thirs parties” in do­ing so. We be­lieve that these con­di­tions are met in the case of Wir­e­card and EY and that we can prove this.