Deutsche Bank's quarterly financial report

Deutsche Bank Settles Postbank Lawsuit with 60% of Plaintiffs, Gains €430M

Aug 22, 2024, 06:03 AM

Deutsche Bank has reached settlements with over 60% of plaintiffs in the Postbank acquisition litigation, including the largest individual plaintiff who accused the bank of underpaying for the acquisition. This resolution is expected to positively impact Deutsche Bank's third-quarter results, with a projected gain of €430 million ($480 million). Following the announcement of the settlements, Deutsche Bank's shares rose by 3%. The litigation, which has been ongoing for over a decade, involved claims of underpayment in the bank's takeover of Postbank.