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WDH: Syntellix claim for damages against Maschmeyer dismissed

Tuesday, 12/28/2021 4:19 PM from

dpa-AFX

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(technical repetition)

MUNICH (dpa-AFX) – The one from the former EnBW CEO Utz Claassen-led medical technology manufacturer Syntellix AG has failed with a lawsuit against its former major shareholder Carsten Maschmeyer. The Munich Regional Court dismissed a claim for damages by Syntellix AG on Tuesday. The judgment is not final.

The company in Hanover demanded 6.3 million euros in damages from Maschmeyer and a former Syntellix supervisory board member. Reason: Maschmeyer violated stock corporation law fiduciary duties and led a “campaign aimed at the destruction of the company”. Therefore, Syntellix could only have carried out a capital increase at a much lower issue price. In addition, there were high legal fees.

However, the judges saw no obligation to pay compensation. The accusation raised at a general meeting that supervisory board chairman Claasen is playing “Prince Carnival” is covered by the fundamental right of freedom of expression and does not violate a shareholder’s duty of loyalty. The requirement for a special audit and a neutral chairman of the general meeting instead of the chairman of the supervisory board is also permissible under stock corporation law.

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