OW investors sue Morgan Stanley and Carnegie

24 Danish institutional investors have also decided to file a lawsuit against IPO banks Morgan Stanley and Carnegie in the case of prospectus liability relating to the collapse of OW Bunker.

Photo: Kasper Palsnov/Jyllands-Posten

A consortium of 24 Danish institutional investors have now also decided to file a lawsuit against the banks that handled the OW Bunker IPO, Morgan Stanley and Carnegie, in the case concerning prospectus liability. As such, the circle of sued parties grows in the case of damage claims filed against the bankrupt OW Bunker A/S estate, relevant Altor units, as well as the former board of directors and daily management team, claims totaling around DKK 767 million (USD 123.4 million).

We conclude that the banks were aware of OW Bunker's speculative activities, and that the banks contributed to misleading investors"

Tomas Krüger Andersen, head of legal, ATP

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