Against the backdrop of recent case law regarding violations of information obligations in the New Market, the author examines under what conditions and to what extent investors can claim damages for erroneous information in the secondary market. Issues of causality, the scope of liability, and the distribution of the burden of proof are central to the work. The general principles of damage and evidence law are applied in accordance with the specific characteristics of capital markets. In this regard, it is particularly important to appropriately consider the price formation mechanisms in capital markets and to ensure a fair distribution of general market risk.