Two groups of Danish investors are going after the banks that acted as financial advisors to the flotation of bankrupt marine fuels supplier OW Bunker for failing to adequately describe the group’s business model in the listing prospectus.
Just as a new €70m ($84m) lawsuit targeting Morgan Stanley and Carnegie investment banks by a group of about 30 institutional investors is to be filed in the Danish courts, it has emerged that the pension funds which issued a writ against the owners and management of OW Bunker in 2015 have also added them to their legal action.
