Legal proceedings for indemnities, decissions by the Superior Provincial Court Düsseldorf

After information given over the telephone, the Superior Provinvial Court Düsseldorf on April 7, 2017 announced the following decisions in the two legal tort litigations:

 

the Superior Provincial Court Düsseldorf rejected the appeal by former Supervisory Manfred Wagner, EASY SOLUTIONS GmbH and a former member of the Management Board against the verdict by District Court Duisburg of February 11, 2016. District Court Duisburg had ordered the appellants to pay €400,000 plus interest, as well as Mr. Wagner and EASY SOLUTIONS GmbH to pay another €83,440.33 plus interest.  Moreover, District Court Duisburg determined that particularly Mr. Wagner has to replace other, currently not yet identifiable indemnities. In detail, we refer to the ad hoc report on this verdict of February 12, 2016. The Superior Provincial Court Düsseldorf did not permit revision.  The verdict is still outstanding.

 

In another decision the Superior Provincial Court Düsseldorf allowed the appeal by former Supervisory Board chairman Manfred Wagner and repealed the verdict by the District Court Duisburg of January 13, 2016 ordering Mr. Wagner to pay €1,513,000 plus interest. The court did not permit the appeal. EASY SOFTWARE AG may file a nullification appeal at the German Federal Supreme Court (BHG) against non-admissibility of the appeal within a month after delivery of the verdict in full form. The verdict has not yet been passed, and the Management Board will, in collaboration with the Supervisory Board, throroughly investigate this, and then decide wehther the nullification appeal should be filed. Impacts on the annual financial statement 2016 will be promptly checked.

 

EASY SOFTWARE AG

The Management Board