COLOGNE – On Wednesday, Cologne’s higher regional court ruled against Deutsche Bank (NYSE: DB) in a litigation case against Postbank, the latest in a long-running dispute over its takeover of the smaller lender.
For years, lawsuits claiming Deutsche Bank had underpaid former shareholders for the Postbank acquisition surfaced in the courts.
These shareholders claimed they were entitled to significantly more than the 25 euros per share paid in 2010.
Deutsche Bank would have had to pay Postbank shareholders 57.25 euros ($61.76) per Postbank share, the court said in a statement on Wednesday.
Deutsche Bank (NYSE: DB) said it had booked provisions covering all outstanding claims by the plaintiffs, including interest claims accrued to date.
“Therefore, the bank considers itself essentially fully protected; any additional financial impact would be limited to further interest accruing currently approximately 2 million euros per month,” Deutsche Bank said.
($1 = 0.9270 euros)
(Source: Reuters)
