Losses on Financial Products: 187,500 Euros Compensated (80% of Losses)

In this case, our firm had the honor of defending two investors who had purchased leveraged financial products, “Commerzbank perpetual CAC 40” certificates. The price had plummeted, their securities had been deactivated, and their bank had failed to notify them. They had lost their entire investment, amounting to 187,500 euros. After losing at first instance with another law firm, they decided to change lawyers on appeal and entrust their case to Maitre Le Bot.

The legal issues concerned the duty of disclosure of Credit Agricole as an investment services provider. At first instance, the Court dismissed the investors’ claims, considering that they were sophisticated investors and that the bank had not breached its duty of disclosure. 

The Court of Appeal, having found that Credit Agricole had indeed breached its obligation to inform the appellants of the deactivation of the securities, reversed the judgment and ordered the bank to pay damages to the appellants.

Outcome: the bank was ordered to compensate the investors for 80% of their losses and awarded them 8,000 euros in reimbursement of their legal fees.

Paris Court of Appeal, Division 5, Chamber 6, 15 November 2023, No. 21/07523. 

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