PROJECT-​Fonds – Lawsuits

In the PRO­JECT Wohnen Fünf Met­ro­polen case, the first oral hear­ing took place on March 19, 2026, be­fore the Nurem­berg Re­gional Court. The court was ex­cep­tion­ally well-​prepared and care­fully con­sidered the ar­gu­ments presen­ted by both sides. Fol­low­ing the hear­ing, both sides were gran­ted the right to file briefs on spe­cific is­sues, a right that both sides ex­er­cised. We are now await­ing the court’s de­cision. We have gained the im­pres­sion that the plaintiffs’ chances are good; this would also send a pos­it­ive sig­nal for the law­suits in­volving all other PRO­JECT funds. This is all the more true given that the PRO­JECT Wohnen Fünf Met­ro­polen is a so-​called “spe­cial AIF” aimed at “semi-​professional in­vestors” and avail­able for sub­scrip­tion with a min­imum in­vest­ment of EUR 200,000. If we can con­vince the court that even these “semi-​professional in­vestors” were not ad­equately in­formed, then this ap­plies all the more to the “or­din­ary” in­vestors in the PRO­JECT Group’s pub­lic funds, since their need for in­form­a­tion is, by defin­i­tion, even greater.

We have filed an­other class-​action law­suit re­gard­ing the PRO­JECT SP2 fund. This, too, is a spe­cial AIF. As men­tioned, it would send a strong sig­nal to all other funds if we were to pre­vail in this spe­cial AIF case with our claims re­gard­ing the pro­spectus. We are op­tim­istic about this case as well.

Here you will find our cur­rent present­a­tion, and here is our we­binar on this topic (in Ger­man only). Fur­ther class-​action law­suits will be filed shortly for the re­main­ing funds. Those af­fected can con­tact us at short notice.

In con­clu­sion — and to dis­tin­guish ourselves from other law firms — we would like to cla­rify once again that our law­suit is dir­ec­ted ex­clus­ively against PRO­JECT In­vest­ment AG, the funds’ cap­ital man­age­ment com­pany. PRO­JECT In­vest­ment AG is leg­ally li­able for er­rors in the pro­spectus (Sec­tion 306 et seq. of the Ger­man In­vest­ment Code (KAGB)), and it holds li­ab­il­ity in­sur­ance. These are two strong ar­gu­ments for fo­cus­ing spe­cific­ally on this de­fend­ant. Any­thing else would be a di­ver­sion with little chance of suc­cess. We are there­fore not fil­ing any law­suits against other parties involved.