Folli Follie Class Action Eligibility Check - Class Period 30th March 1998 – 25th May 2018
We are filling Law Suits collectively against the Company, the Members of the Board of Directors, the Auditors (insured for professional indemnity for the audit of fraudulent financial statements) and the Arranging Banks of the Folli Bonds at the Greek Courts in Athens
Class period is between the date of enlistment of the company in 1998 and the 25th May 2018, date of suspension of trade
Eligible are all security holders and bondholders, who suffered damages, either by selling at a lower price after the announcement of the QCM Fund on 3rd May 2018 or by withholding the securities until date of suspension.
For those ones who sold after the announcement of QCM Fund , the calculation is simple: The amount lost at a lesser price in euros/dollars.
For those who withheld, we calculate the damage as tantamount to the money invested for the purchase of securities; we regard the loss to be total, irrespective whether on the date of suspension the market prize was at 4,8 euros. The company exists and is still big, but if and when trade recommences in the stock market, we anticipate a dilution of 99,95%, thus a total loss. If, by any chance, it will be more than zero, then defendants could deduct this from our compensation.
Deadline is not strict, as we are filling in tranches, separated in asset classes of FOLLI instruments (bonds, equities) However as situation unfolds, it is prudent to participate as soon as possible in order to secure the claims against other creditors.
There is not yet third party financing, therefore a 2% plus VAT 24% must be deposited upfront to the Law Firm’s account
Calculation of the upfront fee is easy :
For those who withheld securities until suspension of trade, it corresponds to the total amount of the money invested in the securities,
For those who sold after the announcement of QCM Fund on the 3rd May 2018, the calculation is the following : The amount lost at a lesser price so you deduct the amount invested at @@@ initial market price by the amount received after the selling at $$$ market price
In case of recovery and ONLY, whether by extra-judicial settlement or by court decision, there is a 10% success fee.