The Boersen Zeitung news service reported this week that the German government has drafted a new law which is designed to increase the rights of shareholders and create a more transparent capital market.
Under the terms of the draft legislation, the report revealed, shareholders will be permitted to sue companies with market capitalisation of above 100,000 euro, down from the previous limit of 1 million euro.
Other changes contained within the proposed law include plans for the legal costs to be shouldered by the company against which the action is being taken, and for increased liability of the management and supervisory boards of companies in the event that false information is published.
However, Boersen Zeitung revealed that no decision has yet been reached as to whether this will apply just to information released through the German stock exchange's compulsary information channel, or to other statements, speeches, and reports.
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