According to the definition in § 2 of the German “Verordnung zur Konkretisierung des Verbots der Kurs- und Marktmanipulation (KuMaKV)” of November 18, 2003, this includes – all facts and value judgments that are capable of – influencing the investment decision of a reasonable investor with average knowledge of the stock exchange. The aforementioned regulation also provides more detailed explanations. – See agiotage, investor, reasonable, stock exchange rumors, decision usefulness, price manipulation, market manipulation, Pairoff, pervasive constraint.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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