International Courant
Deutsche Financial institution workplaces within the Metropolis of London on July 2, 2024 in London, UK
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The upper regional court docket of Cologne dominated towards it on Wednesday Deutsche Financial institution in a long-running authorized dispute with shareholders who alleged that the lender had paid too little within the acquisition of German retail financial institution Postbank.
The establishments merged in 2018.
Plaintiffs within the case allege that Postbank was value greater than the 25 euros ($27) per share that Deutsche Financial institution paid as a part of its takeover bid of October 2010. The traders, 13 claimants who’re former shareholders of Deutsche Postbank (Postbank), believed that they had been entitled to a considerably larger cost of 57.25 euros per share.
In August, Deutsche Financial institution reached a settlement with almost 60% of the plaintiffs within the case.
Deutsche Financial institution mentioned it would now analyze the judgment and famous that it has made provisions for all the plaintiffs’ excellent claims, together with curiosity accrued up to now.
The financial institution has one month to refer the case to the German federal court docket for additional motion after Wednesday’s resolution.
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German court docket guidelines Deutsche Financial institution in lawsuit over Postbank takeover
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