They were once close friends who had cordial contact on all levels and sent each other flattering messages. Two men from Hanover who have worked their way up and, albeit differently, have become rich: the former company founder and financial services provider Carsten Maschmeyer, now a high-net-worth investor and television face (“Den of the Lions”). And Utz Claassen, once CEO of the energy company EnBW and now head of the medical technology manufacturer Syntellix AG in Hanover, which he founded.
Maschmeyer had temporarily participated in this company, which produces implants and screws from magnesium that dissolves in the body, but was increasingly dissatisfied with Claassen’s management and financial behavior. He also said this publicly, which made Claassen fear for his reputation. The friendship broke up. In several proceedings, the two now fight each other in court. An important judgment has now been passed in Munich. The regional court dismissed a claim for damages by Claassen against his former major shareholder Maschmeyer outright; Another case in Munich went out in favor of Maschmeyer in November.
In the process that has now been decided (Ref. 5 HK O 19057/18) Claassens Syntellix demanded 6.3 million euros in damages from Maschmeyer and a former Syntellix supervisory board member. Reason: Maschmeyer violated stock corporation law fiduciary duties and led a “campaign aimed at the destruction of the company”. Therefore, Syntellix could only have carried out a capital increase at a much lower issue price of the shares. In addition, unnecessarily high legal fees were incurred. However, the Munich judges do not see any liability for damages in their 139-page judgment. In addition, Claassen must also bear the legal costs in full.
The accusation raised at a general meeting that supervisory board chairman Claasen is playing “Prince Carnival” is covered by the fundamental right of freedom of expression and does not violate a shareholder’s duty of loyalty, according to the judges. Claassen found the remark dishonorable. The court also saw the description of his activity as temporary president of the then Spanish second division soccer club Real Mallorca as the “hobby of the chairman of the supervisory board” as well as other critical comments from the Maschmeyer camp as permissible expressions of opinion. They therefore do not mean a breach of duty. According to the 5th Chamber for Commercial Matters at the District Court of Munich I.
The former Maschmeyer supervisory board complained about by Claassen or his company Syntellix is therefore not liable for the allegation that business or trade secrets were disclosed in an email to a competitor. Because the content of the email was already publicly known at that time, the chamber found.
The Munich judgment could have an impact on other proceedings in Hanover. It has been resting for a few weeks now, possibly because Hanover wanted to wait for things to end in Munich. Maschmeyer suits the course of events. He had always viewed Claassen’s Munich complaints as a diversionary maneuver from the demands he made in Hanover. There Maschmeyer is the plaintiff and sees claims against Utz Claassen.
It has not yet been determined whether the scales will finally be at the expense of Claassen, the latest judgment is not yet legally binding. What is certain, however, is that nothing is left of the former friendship of the big egos from Hanover – regardless of how the legal proceedings will all end in the end.