DLA Piper advises EWE in proceedings against former CEO and reaches settlement

DLA Piper has represented EWE Aktiengesellschaft (EWE AG) in proceedings pending since 2017 against former Chief Executive Officer Matthias Brückmann.

In the first-instance ruling of 17 March, 2022, the dismissal and termination of Mr. Brückmann's employment contract was confirmed by the Oldenburg Regional Court. The Supervisory Board of EWE AG and Mr. Brückmann have now reached an agreement on a settlement of the pending legal disputes before the Regional Court and the Higher Regional Court of Oldenburg. The Annual General Meeting of EWE AG approved the settlement agreement on 30 June, 2023.

The settlement provides that the mutual legal disputes will be terminated by withdrawing Mr. Brückmann's appeal against the judgment of the Oldenburg Regional Court of 17 May, 2022 and by withdrawing EWE AG's action for damages. Under the settlement, Mr. Brückmann will pay EWE AG an amount of EUR120,000.

The DLA Piper team for the entire proceedings was led by partner Dr Andreas Meyer-Landrut and counsel Marx Dauth with associate Dr Florian Engels in the core team (all Corporate, Cologne). In addition, partners Dr Frank Roth (Litigation, Cologne), Prof Dr Stefan Engels (Media and Advertising Law, Hamburg), Dr Björn Enders (Tax, Frankfurt), senior associates Dr Markus Kaul (Litigation, Cologne), Florian Hader (Tax/Transfer Pricing, Frankfurt) and associate Jonas Mücke (Media and Advertising Law, Hamburg) were involved.

KPMG, Berlin, with partners Alexander Geschonneck and Verena Hinze, was commissioned with the forensic investigation.

Inhouse at EWE AG, the team was led by Dr Hanjo Steinkampf (Head of Legal) and Leif Engelbrecht (Head of Corporate Law).