Monte dei Paschi di Siena

Art. 1 December 2020

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December 11, 2020

Martingale Risk is Preparing to File Largest Lawsuit to Date! Collective Lawsuit Against Banca Monte dei Paschi di Siena Reaches €270 Million

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On December 8th, we concluded the participation period for the collective lawsuit against Banca Monte dei Paschi di Siena (NYSE: BMPS). The total sum of the claim, at our largest figure yet, arrives at an estimated €270 million.

Martingale Risk is proud to represent 11 globally renowned institutional investors  and approximately 120 retail clients disputing a claim for:

1. for violations disputed by consob (the italian financial supervisory authority) with sanction no. 19459 related to their 2014 financial statements and the non-compliance of their june, 2015 semi-annual financial report;

2. for the accounting of large adjustments on non-performing loans within their financial documents related to the period 2012-2016 and

3. for their assessment of legal risk related to the period 2017-2020.


These clients invested during the period of 2012-2020. They consist of, but are not limited to: national, central and global banks, large public companies, globally recognized fund advisors, governmental pension funds and international wealth management firms.

On December 11th, we filed all relevant dispute letters to delay the statue of limitation period by 5 years.