Liability for a defective sales prospectus

(1) Where particulars in a sales prospectus material for the assessment of the asset investments are inaccurate or incomplete, the acquirer of the asset investments may demand, from those who have assumed responsibility for the sales prospectus, and from those from whom the issuance of the sales prospectus originates, as joint and several debtors, that they take over the asset investments against reimbursement of the acquisition price, insofar as this does not exceed the original acquisition price of the asset investments, and of the usual costs connected with the acquisition, provided the acquisition transaction was concluded after publication of the sales prospectus and during the period of the public offer under section 11, but at the latest within two years after the first public offer of the asset investments in Germany. The first sentence applies accordingly to the acquisition of asset investments of the same issuer that cannot be distinguished from the asset investments named in the first sentence by their features or otherwise.
(2) Where the acquirer is no longer the holder of the asset investments, that person may demand payment of the difference between the acquisition price, insofar as this does not exceed the original acquisition price, and the sale price of the asset investments, as well as the usual costs connected with the acquisition and the sale. Subsection (1), second sentence applies.
(3) A person may not be held liable under subsection (1) or subsection (2) who demonstrates that they did not know of the inaccuracy or incompleteness of the particulars in the sales prospectus and that this lack of knowledge was not due to gross negligence.
(4) The claim under subsection (1) or subsection (2) does not exist where 1. the asset investments were not acquired on the basis of the sales prospectus, 2. the matter to which the inaccurate or incomplete particulars in the sales prospectus relate did not contribute to a reduction in the acquisition price of the asset investments, or 3. the acquirer knew of the inaccuracy or incompleteness of the particulars in the sales prospectus at the time of acquisition.
(5) Where asset investments of an issuer with its seat abroad are also publicly offered abroad, the claim under subsection (1) or subsection (2) exists only where the asset investments were acquired on the basis of a transaction concluded in Germany, or of an investment service provided wholly or partly in Germany.
(6) An agreement that reduces or waives the claim under subsection (1) or subsection (2) in advance is void. Further-reaching claims that can be brought under the provisions of the civil law on the basis of contracts or torts remain unaffected.