CLLB Rechtsanwälte files first lawsuits for investors from the Envion ICO against Envion AG and other responsible persons at the Berlin Regional Court
Berlin, Munich, 08.08.2018
As already reported in the press, Matthias Woestmann, IT forensic expert of the Blockchain Intelligence Group (BIG) was commissioned by the Executive Board of Envion AG to investigate the processes surrounding the approximately 20 million multi-produced EVN tokens. According to the Management Board, the allegations have now also been technically confirmed. In the meantime, a number of further allegations have been made against those responsible at Envion ICO and have been asserted out of court with the assistance of a number of investors in the form of redevelopment requests in the context of claims for damages.
After corresponding letters of formal notice from the law firm CLLB Rechtsanwälte on behalf of a number of investors to Envion AG, whose executive board Matthias Woestmann and Trado GmbH remained unanswered despite setting a deadline, the first claims for damages against Envion AG and Trado GmbH have now been filed by the law firm CLLB at the Berlin Regional Court.
The complaints are supported primarily on folder adhesion, deliberate immoral damage and the injury of supervisory regulations, explains the Kanzlei CLLB.
In recent weeks, Envion token investors from all over the world have passed on documents and information to CLLB, which have now been evaluated with the help of other investors and specialists and processed within the scope of the statement of claim.
The scope of the claims for damages asserted in the now filed lawsuits is in the upper six-figure range.
Almost daily further damages report themselves, who would like to unwind the acquisition of the EVN tokens due to the Envion scandal already extensively documented in the press, explain the team of CLLB attorneys, further.
All of the applications now filed are aimed at reversing the EVN investment.
If the lawsuits are upheld, the defendants must not only repay the capital invested under the Envion ICO to the investors, but also reimburse their attorneys‘ fees, court costs and interest accrued in the meantime.
The investors represented by the law firm CLLB accuse the responsible persons of the Envion ICO of having been deceived about essential circumstances on the part of the initiators of the ICO, who played a decisive role in the acquisition of the EVN tokens.
Furthermore, the violation of various supervisory regulations, in particular the provisions of the German Banking Act (KWG) introduced to protect consumers, is asserted.
As already reported in the press, the Executive Board of Envion AG was informed at the end of February 2018 that in addition to the 100 million EVN tokens described in the white paper, around 20 million other „illegal“ tokens were generated without informing investors. Apparently more than 20 million tokens have been sold to crypto-exchanges and silver plated. Investors now told the law firm CLLB that they had not acquired EVN if they had known that „behind their backs“ further tokens would be produced which dilute the market value of the EVN tokens.
According to the Executive Board of Envion AG, an up-to-date and comprehensive technical analysis of the ICO by the experts of the Canadian BIG is now available. The investors‘ accusations were confirmed by BIG. The public prosecutor’s office in Berlin has already initiated a corresponding investigation to clarify possible criminal law effects.
Since the accusations of the management of Envion AG publicly conceding the additional production of EVN tokens contrary to the prospectus, neither the investors nor the law firm CLLB can understand why the company does not react to legal letters from its investors, explains attorney István Cocron, of the law firm CLLB.
In the meantime, various investors have also received the judgement from the legal dispute between Quadrat Capital GmbH and Trado GmbH. One of the consequences of the ruling is that Trado GmbH provided the share capital of € 112,000.00 required for the formation of Envion AG in the form of a loan to Envion AG. In return, Trado GmbH was granted the option to receive 81% of the shares of Envion AG instead of repaying the loan. According to various press releases of Envion AG, the ICO generated more than € 80,000,000.00.
The shares granted for the granting of the loan in the amount of € 112,000.00 are therefore likely to be worth more than € 64,000,000.00. That This would correspond to an interest rate of more than 55,000.00 % in favour of Trado GmbH and at the expense of Envion AG.
To the best of our knowledge, there is no reference to Trado GmbH and the aforementioned loan in either the whitepaper or Envion AG prospectus.
Investors in Envion should consider whether they may also be entitled to damages. The Kanzlei CLLB of attorneys is beyond that grateful for all references and documents, which can be used for the further clearing-up.