More than two hundred Italian retail investors have had a lawsuit thrown out after they tried to sue the ECB over its avoidance of losses on Greek debt.
In early 2012 the group filed a suit on the ECB saying that they had breached a principle of equal treatment and that it was unfair that the central bank avoided losses while private sector bondholders wore the writedowns in the restructuring.
The court tossed out the suit saying that they can’t rule on it because investors were not directly affected.
The ruling can be appealed to the EU Court of Justice
