In the latest development of the case, Deutsche Bank stated that it had settled majority of the claims with plaintiffs, agreeing to pay former shareholders €31 on top of €25 paid to them originally per share. However, there still are some shareholders holding out.
Last week, a lawyer on the case, Jan Mayer, called Deutsche Bank’s offer “dead on arrival”. On new developments he commented: “Whatever was agreed … has no effect on any other claimant’s decision, so it is irrelevant going forward.”
The German banking giant’s share prices dropped after settlements were denied last week, and rose 3% when the they announced further agreements.
On Wednesday, the bank stated that it will reduce the funds set aside for future payouts by €430 million.
In 2023, Bafin called Deutsche Bank’s handling of the Postbank case “unacceptable”.
LONDON — Buy now, pay later firm Affirm launched Monday its installment loans in the U.K., in the company’s first expansion overseas.
Founded in 2012, Affirm is an...
Bank of America “has been, and plans to continue, implementing enhancements” to its AML/BSA and sanctions compliance programs, as it cooperates with regulators, the...
LONDON — Buy now, pay later firm Affirm launched Monday its installment loans in the U.K., in the company’s first expansion overseas.
Founded in 2012, Affirm is an...
