In the litigation concerning the takeover of Postbank, Deutsche Bank has reached a settlement with 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…
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