A German real estate manager is suing LGT Bank, the Liechtenstein-based wealth manager, for not having informed him about the theft of confidential data detailing the names of tax-evaders that was obtained by German authorities, according to media reports.

The as yet unnamed individual is suing the firm for €13 million ($19 million) on the grounds that the bank should have told him about the theft of the confidential list by an ex-employee, which led to criminal proceedings against 700 of the Liechtenstein-based bank's account holders in 2008, the Financial Times Deutschland reports.

According to the publication, the real estate manager was fined €7.5 million for tax evasion and now claims that, as no warning was given by LGT, he did not have a chance to make a voluntary disclosure of a false or incomplete tax declaration, which would have exempted him from punishment.

This lawsuit is expected to set a precedent for similar actions against LGT Bank.

The case will be heard by a court in Vaduz tomorrow, the publication said.