Finding Nemo : Locating Financial Losses after Kolassa/Barclays Bank and Profit

This contribution concerns prospectus liability and critically analyses the CJEU's recent Kolassa and Profit judgments as well as pending case Universal Music. The authors argue that jurisdiction and choice of law clauses in a prospectus must be upheld and that Kolassa is wrong to conclude that there is no agreement and no freely assumed legal obligation between the issuer and the (ultimate) investor. Moreover, they propose a radical new approach to the location of financial losses