Frankfurt/Main, 16 April 2020 – In the course of its IPO in April 2015, publity AG was sued by a former sales partner for payment of a sales commission totalling EUR 47.1 million. The plaintiff claimed to have entered into an oral distribution agreement with the company in 2009. The lawsuit initially went through several instances of the legal aid proceedings until an oral hearing was admitted in April 2018.
The competent court dismissed the lawsuit as early as October 2018, citing, among other things, the lack of coherence of the claim. The plaintiff lodged an appeal against that judgment and again attempted to continue the action through the legal aid procedure.
In January 2020, the Federal Court of Justice (BGH), as the highest possible instance, finally rejected the plaintiff’s application for legal aid for lack of success prospects. Thereafter, the plaintiff did not appeal against the judgment of the Dresden Higher Regional Court, which dismissed the action in the final instance. The judgement of the Dresden Higher Regional Court has now become legally binding. publity has thus successfully concluded the legal dispute that has been pending for 5 years.
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publity AG (“publity”) is an asset manager and investor specialised in office real estate in Germany. The company covers the core of the value chain from the acquisition to the development and the sale of real estate. With over 1,100 transactions in the past seven years, publity is one of the most active players in the real estate market. Currently, the company manages a portfolio with a value of over five billion euros. publity is characterized by a sustainable network in the real estate industry and in the Work-Out departments of financial institutions. With very good access to investment funds, publity handles transactions rapidly with a highly efficient process and proven partners. On a case-by-case basis, publity participates as co-investor in joint venture transactions to a limited extent. The shares of publity AG (ISIN DE0006972508) are traded on the Scale segment of Deutsche Börse.
publity judicially successful – million-dollar lawsuit finally dismissed