Can you recover the money of the shares of Bankia?

 

bankia actions

 

 

 

 

 

 

 

 

 

 

There have been at least a sentence that allows you to recover the money invested in shares in Bankia. It is the Court of First Instance No. 10 of Oviedo 21 November 2013.

For the time being, is the only sentence in this sense we have been able to access. For particular, the plaintiffs had signed preference shares in the year 2009 and had purchased Bankia shares June 2011. They ask the nullity contract by fraud or alternatively by consent or error in radical breach of peremptory norms. Regarding the preferred, it says that its true nature was concealed, their complexity and risks. The argument about actions is mostly hiding the true financial position of the entity. We will focus on the part of the shares.

The actions were recommended by bank employees, who were contacted customers and told them it was a very advantageous opportunity. Even sold a fixed time for the shares they buy.

The bank argues that properly informed about the actions.

As for the preferred, the Magistrate considers that there was a breach of duty of sufficient information to cause the error.

Regarding actions, The argument given is that it is considered established actors, did not want to invest the full amount actually hired. When you tell them the bank employee that given the high demand would surely be apportioned, are encouraged to request an amount greater than that actually wanted. Furthermore the last day supply, tried to cancel the order do it effectively without getting.

Regarding the underlying reason that could be used to declare the nullity of share purchases Bankia, the Magistrate, only says:

Moreover, itself acknowledges that the witness told customers that it was highly utilized values, since they were selling below their value, well what was not true ".

Based on the above it is considered that an error occurred, both the number of shares to be hired as its own value.

No mention of the preliminary inquiries about the case that took place before the Central Court of Instruction No. ago 4 national audience. No comes to the accounts 2011 these beneficios, the auditor refuses to sign these accounts, to which they had to restate accounts 2011 or in the presentation of accounts 4 May 2012 apareciesen a major loss. This argument should be the basis for considering the error. But the ruling does not go in depth on the subject.

In view of the restatement of accounts, s obvious that causes an error: customers buy shares of a company that has benefits in 2011. If the accounts are reformulated and acquires 3.000 million in losses, has caused an error. But we have to wait to see how the cases there raised about placing Bankia shares are resolved.

 

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