Heuking Kühn Lüer Wojtek advises Syntellix AG and Prof. Dr. Utz Claassen on takeover battle with Carsten Maschmeyer while streamlining the shareholder structure
With a team led by Frankfurt-based Dr. Günther M. Bredow, Heuking Kühn Lüer Wojtek advised Syntellix AG, Hanover, Germany, and in certain proceedings Dr. Utz Claassen, in their legal disputes with Carsten Maschmeyer.
The legal disputes between Syntellix AG, Prof. Dr. Utz Claassen, and Carsten Maschmeyer, widely publicized in the media during the last few months, mainly focused on taking over the majority stake of the medical technology start-up for highly innovative bioresorbable implants. Carsten Maschmeyer had a stake in Syntellix AG through MM Familien KG, which he controls.
The dispute started about a year and a half ago when a new investor joined whose subscription rights wee excluded. Prior to the key meeting of the supervisory board, which was to resolve on the investor's admission, MM Familien KG, which was affected by the exclusion of subscription rights, had submitted a last-minute competing subscription offer, which the management board was unable to consider for various reasons. As a result of the rejected offer, a media and legal campaign was initiated against Syntellix AG and its corporate bodies, which included allegations of breach of trust in connection with an allegedly illegal jersey sponsorship of Spanish soccer team RCD Mallorca, which all proved to be unfounded.
In a variety of legal disputes, Heuking Kühn Lüer Wojtek advised Syntellix AG and Prof. Dr. Utz Claassen against Carsten Maschmeyer, MM Familien KG, and employees and consultants of Maschmeyer group. Among others, the law firm advised on a claim for damages, in particular for intentional immoral harm and other unlawful acts, infringement of the duty to act in accordance with the Stock Corporation Act, disclosure of information to a competitor, and on various preliminary injunction and criminal proceedings.
As is public knowledge, an agreement was reached in the last few days before Christmas to the effect that MM Familien KG will sell all shares held in Syntellix AG to Prof. Dr. Utz Claassen, allowing the company to concentrate again on the development of its innovative business.
Counsel to Syntellix AG and/or Prof. Dr. Utz Claassen:
Heuking Kühn Lüer Wojtek
Dr. Günther M. Bredow / Finn-Michael Liebscher
(Coordination and Lead, Action for Damages, Corporate)
Daniel Froesch, (all Frankfurt)
Dr. Verena Hoene,
Dr. Marie-Christin Englmann (Preliminary Injunction Proceedings, both Cologne)
Dr. André M. Szesny,
Urs Jakob Stelten (Criminal Trials, both Düsseldorf)
Bernd Weller (Employment, Frankfurt)
Dr. Herbert Palmberger (Insurance, D&O, Düsseldorf)
Alexander J. Thum (Civil Law, Action for Damages, Frankfurt)