Investors furious after Immoeast 'loses' EUR520 million
The share price of Immoeast started plummeting not only due to the crisis, which affected the developer sector, but also after it was revealed that during the management of Karl Petrikovics who stepped down at the beginning of October, the firm lost a substantial share of the capital from its last year's share issue and the funds cannot be traced.
Austrian daily Wirtschaftsblatt informed that investors who lost out have established an association which will defend their rights. "Many investors lost plenty of money within the past couple of months. The financial watchdog let everyone down. We invite all victims to join us against the financial supervisory authorities, Immofinanz [parent company of Immoeast] and related entities," said representatives of Verein fuer Finanzmarktausgleich.
Source: Puls Biznesu (M.M.)
Austrian daily Wirtschaftsblatt informed that investors who lost out have established an association which will defend their rights. "Many investors lost plenty of money within the past couple of months. The financial watchdog let everyone down. We invite all victims to join us against the financial supervisory authorities, Immofinanz [parent company of Immoeast] and related entities," said representatives of Verein fuer Finanzmarktausgleich.
Source: Puls Biznesu (M.M.)
