Deutsche Bank Aktiengesellschaft said on September 7 that it had settled a Frankfurt lawsuit brought by former banker Dario Schiraldi, according to Reuters. Schiraldi had sought €152 million in damages, but the settlement amount was not disclosed, and the bank said the agreement would have only a small financial effect on third-quarter earnings. The Frankfurt court confirmed that Schiraldi withdrew his case ahead of the scheduled hearing, making it the second settlement involving the six former employees who brought related claims. Four former employees continue to pursue claims exceeding £600 million in London over alleged reputational and career damage from the handling of 2008 transactions with an Italian lender, claims Deutsche Bank disputes. At June 30, the bank reported €1.0 billion of civil-litigation provisions and €0.2 billion for regulatory enforcement, group-wide amounts that do not establish what was recognized specifically for these former-employee claims.
Deutsche Bank AktiengesellschaftDeutsche Bank settled a €152M ex-banker lawsuit with only a small expected hit to Q3 earnings
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