Prospectus - Notowania

- 68 -
RISK FACTORS
of the possibility to recover, via bankruptcy revocatory action, at least
the sums deployed by the latter between 1999 and 2000 so as to repay
the banks the debt of a number of Group companies,
all of which with interest and monetary revaluation from the due date until
settlement.
Under sentence dated 3 November 2009, the judge rejected the plaintiff petition,
ordering the companies of the Cirio group under extraordinary administration to
jointly and severally reimburse the trial costs in favour of the defendant banks.
The decision can be appealed.
Also on the basis of the opinion of the defence counsel, UniCredit has always
believed the legal action to be groundless and, trusting in a positive outcome of
the proceedings, has not made any provision.
(d) Qui tam Complaint against Vanderbilt and other UniCredit Group companies
On July 14, 2008 Frank Foy and his wife, in compliance with the local
legislation of New Mexico (Qui Tam Statute) – according to which anyone
resident in the State is entitled to take civil legal action in the interests of the
latter - presented a petition (complaint) on behalf of the State of New Mexico in
relation to a number of investments in Vanderbilt LLC (“VF”) (a company
indirectly invested in by UniCredit) made by the New Mexico Educational
Retirement Board (ERB) and by the State of New Mexico Investment Council
(SIC). Frank Foy states that he covered the position of Chief Investment Officer
within ERB and resigned in March 2008.
Frank Foy requests, on behalf of the State of New Mexico, compensation for
damages totalling US$360 million (inclusive of the fines applicable in
compliance with the New Mexico Fraud against Taxpayers Act, which
envisages, for this purpose, the possibility of tripling the request for
compensation of the damage suffered) on the basis of the New Mexico Fraud
against Taxpayers Act, maintaining that Vanderbilt VF and the other defendants
allegedly surreptitiously induced ERB and SIC to invest US$90 million in
Vanderbilt products (i) consciously providing false information with regard to
the nature and degree of risk involved in the investment in VF and (ii)
guaranteeing improper donations to the Governor of the State of New Mexico
(still in office) - Bill Richardson – and to other State officials, for the purpose of
inducing these investment to be made. Frank Foy maintains that the State
allegedly suffered damages equating to the entire initial investment of US$90
million (consequent damage) and requests an additional US$30 million for the
loss suffered (lost income).
The list of defendants includes – inter alia:
• Vanderbilt Capital Advisors, LLC (VCA), a company indirectly
controlled by Pioneer Investment Management USA Inc. (PIM US);