Deutsche Bank’s City of London offices in London, UK, on July 2, 2024
Mike Camp | In Pictures | Getty Images
The Cologne Higher Regional Court ruled on Wednesday that the Deutsche Bank It is embroiled in a long-running legal dispute with shareholders who accuse the bank of underpaying for German retail lender Postbank.
The agencies merged in 2018.
The plaintiffs in the case claimed that Postbank was worth more than the 25 euros ($27) per share paid by Deutsche Bank. October 2010 takeover bid. The investors include 13 plaintiffs, all former shareholders of Deutsche Postbank, who believe they are entitled to a much higher payment of 57.25 euros per share.
In August, Deutsche Bank reached settlements with nearly 60% of the plaintiffs in the case.
Deutsche Bank said it would now analyze the judgment, noting that reserves covering all outstanding claims by the plaintiffs had been recorded, including interest accrued to date.
After Wednesday’s ruling, the bank has a month to take the case to Germany’s Federal Court for further steps.
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