Business · Companies · 6 hrs ago

Investor Remo Stoffel sues Graubündner Kantonalbank over investment

Investor Remo Stoffel sues Graubündner Kantonalbank over investment

Investor Remo Stoffel has filed a civil lawsuit against Graubündner Kantonalbank and its subsidiary, BZ Bank, in Switzerland.

He is seeking about 600 million francs, while a separate account of the claim put the total at about 636 million francs.

Stoffel says the banks failed in their duties while managing an investment product linked to machine-tool maker United Machining Solutions.

The dispute concerns a January 2024 share sale, when Martin Ebner’s investment company bought all newly issued shares and raised its stake to 55 percent.

Stoffel says BZ Bank should have exercised investors’ rights to buy shares, and that its decision not to do so breached an agreement.

The banks deny the allegations and reject the claims, calling them unfounded and saying they will defend themselves in court.

The case has been filed at the Höfe District Court after settlement talks failed.

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