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Skip to content Main Navigation Search Search for: Local I-Team Investigations Weather U.S. & World Entertainment Stream NBC LA News 24/7 Clear 60º Watch News 24/7 Trending ⚖️Menendez Brothers ⚾️Dodgers 🗳Election 101 🗳️Decision 2024 🏈 Play 'The Challenge' 🔍 I-Team Tips 📺 Watch: The Rundown Expand MONEY REPORT In partnership with news GERMAN COURT RULES AGAINST DEUTSCHE BANK IN POSTBANK ACQUISITION LAWSUIT BY RUXANDRA IORDACHE,CNBC • PUBLISHED 4 HOURS AGO • UPDATED 3 HOURS AGO Mike Kemp | In Pictures | Getty Images Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K. * 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 13 plaintiffs in the case claimed that Postbank, which Deutsche Bank acquired over several interest purchases from Deutsche Post, was worth more than the 25 euros ($27) per share paid in 2010. 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 multi-stage acquisition of German retail bank Postbank. 📺 Los Angeles news 24/7: Watch NBC4 free wherever you are The 13 plaintiffs in the case claimed that Postbank, which Deutsche Bank acquired over several interest purchases from Deutsche Post, was worth more than the 25 euros ($27) per share paid in 2010. The investors, 13 plaintiffs who are former shareholders of Deutsche Postbank (Postbank), instead held they were entitled to a significantly higher payment of 57.25 euro per share — the price at which Deutsche Bank bought its initial 30% stake in Postbank, mere days before the collapse of Lehman Brothers and the kickoff of the global financial crisis, which waylaid the takeover. > Get top local stories in Southern California delivered to you every morning. > Sign up for NBC LA's News Headlines newsletter. Deutsche Bank and Postbank finally merged in 2018. Legal suits linked to the transaction have cast a long shadow over the financial prospects of Deutsche Bank, dampening its performance as recently as in the second quarter — when the lender ended its 15-quarter profit streak and booked a loss of 143 million euros on the back of a 1.3-billion-euros provision linked to the Postbank proceeding. Deutsche Bank later reached settlements with nearly 60% of plaintiffs in the case in August. MONEY REPORT news 19 mins ago EUROPEAN CENTRAL BANK POLICYMAKERS SPLIT ON THE NEED FOR JUMBO RATE CUTS AS GROWTH CONCERNS TAKE OVER news 40 mins ago INSIDE THE FALL OF 23ANDME Earlier in the Wednesday session, the lender reported the release of 440 million euros of litigation provisions in the third quarter, which helped it swing back to a better-than-expected net profit attributable to shareholders of 1.46 billion euros ($1.58 billion) over the period. Deutsche Bank said it will now analyze the Wednesday judgement and noted it has booked provisions covering all outstanding claims by the plaintiffs, including interest accrued to date. "The Court has not allowed a further appeal to the German Federal Court. Deutsche Bank will assess if to file a non-admission complaint (motion for leave to appeal) after receiving the written reasoning for the decision," a Deutsche Bank spokesperson said. The lender's shares were down 2.3% at 10:58 a.m. London time. — CNBC's Sophie Kiderlin contributed to this report. ALSO ON CNBC * 'Profound' China-Russia ties won't change despite 'turbulent' geopolitics: Xi * Russia says it has no intention of abandoning Iran as it faces Israel's wrath * Deutsche Bank shares shed 3% as lender's swing back to profit fails to impress Subscribe to the CNBC YouTube Channel Morning Squawk Newsletter Copyright CNBC THIS ARTICLE TAGGED UNDER: news Browns' Deshaun Watson out for season after suffering torn Achilles NFL power rankings: Packers rising, 49ers falling after Week 7 Männer Gesundheit| Sponsored by TaboolaSponsored by Taboola Urologe bittet Männer, die Prostata zu "schrumpfen" mit diesem Tipp (jeden Morgen) How to watch 49ers vs. Cowboys game live online, on TV How I Love Chamoy's made Mexican sugar-free candy popular Skip Ad DiscoverRead More Bosch Hausgeräte| SponsoredSponsored Der Cookit von Bosch: Jetzt neu auch als Black Edition Undo Siemens Hausgeräte| SponsoredSponsored Mehr erfahren Kaffeevielfalt ganz nach deinem Geschmack Undo Bosch Hausgeräte| SponsoredSponsored Magisch automatisch: Küchenmaschine Serie 6 Undo Nagelknipser| SponsoredSponsored Jetzt kaufen Er gleitet mühelos durch meine dicken Zehennägel Undo Bosch Hausgeräte| SponsoredSponsored Jetzt kaufen und nie wieder selbst kneten Undo on now Live: Today in LA @ 6AM TRENDING STORIES * LOS ANGELES DODGERS Dodgers legend Fernando Valenzuela reportedly hospitalized * LOS ANGELES DODGERS Boyle Heights to get Fernando Valenzuela mural as Dodgers head to World Series * COLORADO Colorado girl, 8, fights back against kidnapper in clown mask, police say * DODGERS Los Angeles Dodgers legend Fernando Valenzuela dies at age 63 * LOS ANGELES DODGERS Fernando Valenzuela's remarkable rookie season with the Dodgers in 1981 will live on forever * Der Siemens EQ900 – Kaffeegenuss ohne KompromisseSiemens Hausgeräte Mehr erfahren Undo WEATHER FORECAST Los Angeles, CA 60° Clear 0% Precip Tonight 57° Tomorrow 84° * Facebook * Instagram * TikTok * Newsletters * Submit Tips for Investigations * Contact Us and Meet the News Team * Our News Standards * Internships with NBC4 and Telemundo 52 Los Angeles * Xfinity: Internet, TV, streaming, more * KNBC Public Inspection File * KNBC Accessibility * KNBC Employment Information * FCC Applications * Send Feedback * Advertise With Us * Privacy Policy * Terms of Service * Cookie Notice * CA Notice * Ad Choices Copyright © 2024 NBCUniversal Media, LLC. 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