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Shareholders lose appeal in EM.TV suit

Ruling first confirmation of district court decision by higher court

COLOGNE — A Munich court rejected Friday an appeal by 55 EM.TV shareholders for reimbursement of the fallen value of the company’s shares.

Over the past 10 months, five Munich courts had rejected compensation claims brought forward from different shareholder groups of the fallen Neuer Markt shooting star.

Friday’s ruling is the first confirmation of a district court decision by a higher court. EM.TV said it believes that the ruling will have significance for other similar cases pending before courts. According to EM.TV, the value lost for the 55 shareholders was e800,000 ($810,000).

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