Financial crack of 130 million euros of a listed company: no one guilty among the directors

The trial for the super-bankruptcy of Opengate, the "flagship" company of the new economy, which ended upside down in 2003, with liabilities of 130 million euros, ended without guilty.

On Friday 13 December the Varese Court acquitted all ten defendants accused of fraudulent bankruptcy, and left the plaintiffs empty-handed, seven hundred investors who had asked for compensation for eight million euros.

No fraudulent bankruptcy: this is how the judges of the Varese court panel chaired by Anna Giorgetti sentenced yesterday in the first instance.

"All acquitted with full formula or for not having committed the fact or because the fact does not exist - comments the lawyer Fabrizio Busignani, pillar of the panel of defenders - it has been fully demonstrated that there was no behavior against the law".

No compensation, therefore, for the more than seven hundred civil parties filed in court: the acquittal cancels the claim for damages which amounted to eight million euros.

Opengate, an IT company, was born in the 90s, becoming the symbol of the new economy with the new millennium.

It was the first company listed on the new market in Piazza Affari: Italy cried out for a miracle for a technology stock that in a few months burned millions of euros with prices going from 200 to zero in a few days. 42 thousand savers believed it there and whose hopes collapsed in 2004 when the Varese Court decreed the bankruptcy of the company.

https://www.varesenews.it/2013/12/opengate-tutti-assolti-non-fu-bancarotta-fraudolenta/45546/