German courtroom guidelines in opposition to Deutsche Bank in Postbank acquisition lawsuit

Cologne’s higher regional court on Wednesday ruled against Deutsche Bank in a long-standing legal dispute with shareholders who alleged the lender underpaid in its acquisition of German retail bank Postbank.

The institutions merged in 2018.

Plaintiffs in the case claim that Postbank was worth more than the 25 euros ($27) per share paid by Deutsche Bank as part of its takeover offer of October 2010. The investors held they were entitled to a significantly higher payment of 57.25 euro per share.

In August, Deutsche Bank reached settlements with nearly 60% of plaintiffs in the case.

Deutsche Bank said it will now analyze the judgement and noted it has booked provisions covering all outstanding claims by the plaintiffs, including interest accrued to date.

The bank has a month to take the case to Germany’s federal court for further steps after the Wednesday decision.

This is a breaking news story, please check back later for more