EU Prospectus Rules Allow Sophisticated Investors To Sue - Law360

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Law360, London (June 3, 2021, 6:32 PM BST) -- Europe's top court ruled on Thursday that sophisticated investors can sue companies under the bloc's prospectus rules if the information that they publish about their business ahead of offering securities is misleading.

The European Court of Justice said that the Prospectus Directive allows institutional investors to bring an action for damages against an issuer that publishes a prospectus with false information. Under the directive, companies offering securities to the public or seeking admission on a regulated market must publish a prospectus document if they offer shares to retail investors.

But issuers do not need to produce a prospectus — which includes...

June 04, 2021 at 12:32AM
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EU Prospectus Rules Allow Sophisticated Investors To Sue - Law360

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