Deutsche Bank’s proposed Postbank case settlement offer rejected by plaintiffs

Deutsche Bank (DBKGn.DE), opens new tab has proposed a settlement to shareholders who sued Germany’s largest bank for underpaying them for the acquisition of Postbank but the offer is too low, a lawyer for the plaintiffs said on Friday.

The lawyer, Jan Bayer, rejected the bank’s proposal as a “crackhead” offer that is “dead on arrival”.

Any settlement would mark a significant development in years-long litigation that has cast a shadow over Deutsche Bank and recently forced it to set aside 1.3 billion euros ($1.43 billion) ahead of any possible payout.

Source: REUTER