»Investor Protection During Regular Delisting«: The author demonstrates that, under the provisions of § 39, paragraphs 2 to 6, of the German Stock Exchange Act (BörsG) (›Delisting‹), majority shareholders may systematically shift shareholder value to their advantage. Potential losses for minority shareholders are quantified, particularly due to the exclusion of option values inherent in share ownership. Proposed reforms include dynamic methods for determining shareholder compensation in cases where listed companies ›go dark‹.