Themen:
Media Release
Frankfurt am Main, September 5, 2024
In the litigation concerning the takeover of Postbank, Deutsche Bank (XETRA: DBKGn.DE / NYSE: DB) reached a settlement with the long-standing plaintiff Effecten-Spiegel AG. The proceeding initiated by Effecten-Spiegel AG is one of two actions before the Higher Regional Court of Cologne in connection with the takeover of Postbank.
The settlement includes an additional payment (including interest) of 36.50 euros per share on the then takeover offer price as proposed by the bank. Effecten-Spiegel AG as lead plaintiff pursued the litigation across all instances, including two appeals to the Federal Court of Justice; against the background of the plaintiff’s specific role in this litigation, a refund of costs has been agreed which accounts for the expenses in the long-running litigation.
Effecten-Spiegel AG was the first plaintiff who initiated proceedings against Deutsche Bank immediately after the voluntary takeover offer to the then Postbank shareholders in October 2010 and was for years the sole plaintiff in the litigation. The respective proceeding before the Higher Regional Court of Cologne will be terminated in accordance with the settlement agreement.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
Forward-looking statements
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement.
Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission.
Such factors are described in detail in our SEC Form 20-F of 14 March 2024 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir
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