More than 200investors in the beleaguered
The claims against the German fund are estimated at around $30m (Euros 25m). The plaintiffs claim VIP Medienfondsprospectuses were misleading and that not all of the equity raisedwas actually channelled into production.
The Bremen-basedlaw firm KTAG filed the claims for damages at 30 regional courts throughout
According toKTAG partner Dietmar Kaelberer,the Dresdner Bank and HVB were responsible for the large damages suffered byinvestors "through their involvement in these questionable investmentmodels."
The investorinterest group BSZ reported that Schmid's lawyers hadtried to stop KTAG from informing its clients about the
"One thustends to get the impression that attempts are being made with all one's mightto prevent the clarification of absolutely disreputable facts," KTAGpartner Jens-Peter Gieschen commented.
KTAG'sannouncement in early February of plans afoot to make claims against