Regional Court of Frankfurt upholds legal position of MLP and dismisses counterclaims by former FERI-shareholders

As communicated in the ad-hoc announcement of 18th January 2012, at the beginning of 2012 MLP AG filed for a negative declaratory judgement by the Regional Court of Frankfurt am Main against some former FERI AG shareholders.

In the course of the acquisition of the remaining FERI AG shares by MLP AG, the respective former shareholders had demanded an increase in the purchase price payable by MLP amounting to EUR 51.5 million. The aim of the legal action by MLP was to obtain judicial confirmation that the claims asserted by this group of former shareholders were unjustified.

During the course of the consequent legal dispute, the former shareholders (defendants) filed a counterclaim in which they formally sought to assert their purchase price claims. In today’s ruling (File no.: 2-18 O 33/12) the 18th civil chamber of the Regional Court of Frankfurt dismissed these counterclaims against MLP AG and ordered the claimant to pay the costs.

Today’s ruling is in line with MLP’s view that the claims asserted by the former shareholders of FERI AG are devoid of any legal foundation.

The aforementioned judgement is not yet legally final and absolute.