It emerged this week that Germany's leading telecoms company, Deutsche Telekom is facing more than 2,000 lawsuits brought by investors in relation to the firm's overvaluation of its assets.
The company claims that the global economic slump which occurred shortly after the internet boom of the late 1990s is responsible for the drop in its share price, which at one point during the bust period fell 75%.
However, the aggrieved investors are seeking EUR100 million in damages, arguing that the telecoms firm deliberately misled them.
According to reports, the judge overseeing the case, Meinrad Woesthoff, is in the process of deciding what to include in the case, which could take several years to reach a conclusion.
He is said to have agreed with the investors' claim that Deutsche Telekom valued its properties inappropriately, but has rejected the suggestion that the company should have disclosed its plans to purchase US wireless firm Verizon, arguing that such a disclosure could have scuppered the deal.
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