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Section 11

Liability for a defective securities information sheet

(1) Where, in a securities information sheet published under section 4(1), first sentence, particulars material to the assessment of the securities are inaccurate or misleading, or the warning notice under section 4(4) is missing, the acquirer of those securities may, from those from whom the issuance of the securities information sheet originates, and from the offeror, as joint and several debtors, demand the taking-over of the securities against reimbursement of the acquisition price, insofar as this does not exceed the initial issue price of the securities, and of the usual costs connected with the acquisition, provided the acquisition transaction was concluded after publication of the securities information sheet and during the term of the public offer, but at the latest within six months of the first public offer of the securities domestically.
(2) Where the acquirer is no longer the holder of the securities, the acquirer may demand payment of the difference between the acquisition price, insofar as this does not exceed the initial issue price, and the disposal price of the securities, as well as the usual costs connected with the acquisition and disposal.
(3) Where securities of an issuer domiciled abroad are also publicly offered abroad, a claim under paragraph 1 or paragraph 2 exists only where the securities were acquired on the basis of a transaction concluded domestically, or of an investment service provided wholly or partly domestically.

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