Unicredit has sued Caius Capital and the Caius funds before the Court of Milan, asking for damages of approximately 90 million euros. The Bank communicates this in a note, explaining that the decision is linked to the initiatives taken in recent months by Caius Capital and the funds on the issue of cashes (hybrid instruments used by the bank in relation to the 2008 capital increase).
"In accordance with its corporate policy, the Bank does not comment on ongoing proceedings", concludes the note.
In mid-July the EBA had decided to do not open any investigation on the issue of cashes, rejecting the request presented by Caius and confirming the 2012 position regarding the treatment of cashes.
A decision that had confirmed what was previously declared by Unicredit, ie that the treatment of cashes was examined and confirmed by all the competent authorities and that the ordinary shares of Unicredit must be calculated as CET1.
In a press release dated July 20, Unicredit had already informed that it had "notified the competent market authorities of the actions of Caius Capital in the light of possible market abuses" and that it was "moreover evaluating any other recourse in order to protect its stakeholders, shareholders and bondholders”.
