An investor filed a suit in Austria claiming that a capital market prospectus was incorrect. The relevant incorrect prospectus was not notified in Austria. In this case, the Supreme Court for Civil Matters ruled on the jurisdiction of Austrian courts. According to this ruling the notification of a prospectus in Austria is not a mandatory requirement for the jurisdiction of Austrian courts. It is sufficient if the investments were made by an Austrian account, the contractual documents were signed in Austria and the settlement account was an Austrian account (6 Ob 239/18t, 5 Ob 240/18g).
8. April 2020