Die Verletzung von Lock-up Agreements

»Breaches of Lock-Up-Agreements. On the Development of a Liability-Concept extra legem, intra ius« Lock-up-agreements are a common mechanism in the context of initial public offerings. This thesis addresses the consequences of a breach of lock-up-agreements and whether investors are entitled to seek for indemnities as a result of such breach. By developing the legal idea of a »non-contractual self-commitment«, the thesis establishes a liability-concept under which investors are eligible to claim damages for a plunge in stock prices following the breach of lock-up-agreements.