Prospectus - Notowania

209
>> Condensed Consolidated Financial Statements
Part E) – Information on risks and related risk management policies
The Judge for Preliminary Proceedings set the hearing for more specific allegations for October 18, 2010.
Following a number of recent restructuring transactions in the UniCredit Group, without prejudice to the legitimation of
UniCredit S.p.A. as defendant, the question in law, previously attributable to Banca di Roma S.p.A., was transferred to
UniCredit Corporate Banking S.p.A.
The plaintiffs’ claim in this proceeding appears totally groundless.
Based on this, no provisions have been made at this time.
Qui Tam Complaint against Vanderbilt LLC and other UniCredit Group companies
On July 14, 2008, pursuant to local New Mexico law (Qui Tam Statute), according to which anyone who is a state resident
has standing to bring a civil legal action on the state’s behalf, Frank Foy and his wife filed a complaint on behalf of the State
of New Mexico regarding some investments in Vanderbilt LLC (“VF”) (a company in which UniCredit indirectly owns a non-
controlling interest) made by the New Mexico Educational Retirement Board (ERB) and the State of New Mexico Investment
Council (SIC). Frank Foy alleges that he held the position of Chief Investment Officer of ERB and that he resigned in March
2008.
On behalf of the State of New Mexico, Frank Foy is requesting total damages of USD 360 million (including applicable
penalties pursuant to the New Mexico Fraud against Taxpayers Act, which provides for the possibility of claiming damages
that are three times the injury suffered) on the basis of the New Mexico Fraud against Taxpayers Act alleging that Vanderbilt
VF and the other defendants surreptitiously led ERB and SIC into investing USD 90 million in Vanderbilt products (i)
knowingly providing false information on the nature and degree of risk of the investment in VF and (ii) promising improper
donations to the Governor of the State of New Mexico (still in office), Bill Richardson, and to other State officials, for purposes
of encouraging such investments. Frank Foy maintains that the State suffered an injury equal to the entire initial investment of
USD 90 million (indirect damages) and requests an additional USD 30 million for the loss suffered (loss of income).
The list of defendants includes, inter alia :
� Vanderbilt Capital Advisors, LLC (VCA), an indirect subsidiary of Pioneer Investment Management USA Inc. (PIM
US);
� Vanderbilt Financial, LLC (VF), a special purpose vehicle in which PIM US holds an equity interest of 8%;
� Pioneer Investment Management USA Inc. (PIM US), a wholly owned subsidiary of PGAM;
� PGAM, a wholly owned subsidiary of UniCredit;
� UniCredit;
� Several directors of VCA, VF and PIM US;
� Law firms, audit firms, investment banks and officials of the State of New Mexico.
It is too early yet to place a value on the economic effects that could derive from the proceeding in question.
The defendants have moved for denial of the plaintiffs’ claims. The Court has not yet set a date for hearing such motions.
The complaint has been served on the US companies, including Vanderbilt Capital Advisors and Pioneer Investment
Management USA Inc. (both part of the UniCredit Group). The individuals sued have also received service of the complaint.
On September 24, 2009, UniCredit also received service of the complaint. PGAM has not yet been regularly sued.