Investors File Lawsuit Against IP Concept and DZ Privatbank Following Unexpected Fund Closure

Investors have initiated legal action against IP Concept S.A. and its parent company, DZ Privatbank S.A., following the abrupt liquidation of the Deutscher Mittelstandsanleihen FONDS. The decision, disclosed on June 14, 2023, came without prior notice to investors or a clear explanation, leading to significant financial losses. In response, the aggrieved investors have engaged Dr. Wolfgang Schirp's law firm to represent them in these disputes.

Dr. Schirp stated that more than 150 private and institutional investors are demanding accountability and compensation through a pilot lawsuit filed at the Stuttgart Regional Court. Parallel to this, a formal complaint process has commenced with the Luxembourg financial market supervisory authority, CSSF, with outcomes expected soon. The increasing solidarity among investors is hoped to bolster the case, emphasizing both legal and commercial repercussions for the financial institutions involved.