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Bilfinger SE
Legal Proceedings Report • Feb 20, 2018
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Legal Proceedings Report
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Ad-hoc | 20 February 2018 15:41
Bilfinger SE: Supervisory Board resolves on assertion of claims for compensation against former members of the Executive Board
Bilfinger SE / Key word(s): Legal Matter
Bilfinger SE: Supervisory Board resolves on assertion of claims for compensation against former members of the Executive Board
20-Feb-2018 / 15:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Today, as a result of its investigation initiated in March 2016, the Supervisory Board of Bilfinger SE resolved to assert claims for damages against all of the former members of the Executive Board in office from 2006 to 2015 but who joined the Executive Board prior to 2015. The former members of the Executive Board are accused of breaches of duty in the implementation of an orderly compliance management system. In the view of the Supervisory Board, some former Executive Board members also breached their duties in connection with M&A projects in the past. According to the current provisional calculation, the recoverable damage of the company is in a low three-digit million euro range. The precise amount of the damage claims and to what extent these can actually be asserted has not yet been determined at this time. There has also been no decision regarding which former members of the Executive Board damage claims should be asserted against and in which specific amount.
The incumbent Executive Board of Bilfinger SE has now initiated an investigation to determine whether members of the Supervisory Board may have breached their duties in connection with the aforementioned facts.
20-Feb-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Bilfinger SE |
| Carl-Reiß-Platz 1-5 | |
| 68165 Mannheim | |
| Germany | |
| Phone: | +49 (0621) 459-0 |
| Fax: | +49 (0621) 459-23 66 |
| E-mail: | [email protected] |
| Internet: | http://www.bilfinger.com |
| ISIN: | DE0005909006 |
| WKN: | 590900 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange; Luxemburg |
| End of Announcement | DGAP News Service |