Spanish court quizzes European judicial body over IPO prospectus liability

On the 12.17.19 at 3:43PM


Adrien Paredes-Vanheule

The Spanish supreme court asks the Court of Justice of the European Union (CJEU) to rule on whether qualified investors can bring a liability action against a company if its IPO prospectus is only issued for retail investors.

Questions posed last 12 December by the Spanish supreme court to the CJEU are rooted into a lawsuit opposing a Spanish institutional investor Unión Mutua Asistencial de Seguros (Umas) and the financial group Bankia.

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