Berlin Court Bars Law Firm From Publishing Claims Against Xryma Plc

A Berlin regional court has issued an injunction ordering the Schirp law firm to stop publishing the majority of challenged statements it had made about Xryma Plc, the Cyprus-registered company announced Thursday. The Regional Court Berlin II sided largely with Xryma after finding that Schirp had publicly accused the firm of investment fraud and money laundering without first giving it an opportunity to respond.

The court order centers on a dispute tied to what has been referred to in filings as the "Juicy Fields" matter. Xryma contended that Schirp's public accusations were factually false and procedurally improper, arguing the law firm bypassed basic fairness standards before leveling serious allegations in public forums.

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The injunction represents a procedural victory for Xryma, blocking the bulk of the statements the company had challenged. German courts routinely require that parties facing serious reputational accusations be given a chance to respond before those claims are disseminated publicly, and the Berlin tribunal found that standard was not met in this case.

Xryma Plc is headquartered in Nicosia, Cyprus, and has disputed any connection to fraudulent activity. The company said the ruling validated its position that the allegations were unfounded and that the manner in which they were made violated its rights. Schirp has not publicly commented on the ruling as of the announcement date.

The case highlights the legal exposure law firms can face when making public-facing accusations against companies prior to litigation or regulatory findings. Continue reading at All Financial Services & Investing.