Deutsche Bank Settles $176 Million Lawsuit With Former Banker in Frankfurt
Settlement Details and Background
Overview of the Lawsuit
FRANKFURT, Sept 7 (Reuters) - Deutsche Bank and a former banker have settled a Frankfurt lawsuit seeking €152 million ($176.62 million) in damages from the bank, Deutsche Bank said on Monday.
Background of the Dispute
The banker, Dario Schiraldi, was one of several former employees who had sued Germany's largest lender over alleged damage to their reputations due to a case involving business with Italy's Monte dei Paschi in 2008.
Court Proceedings and Withdrawal
A Frankfurt court, which was scheduled to hear the case starting on Thursday, confirmed that the plaintiff had withdrawn the case.
A lawyer for the banker didn't immediately respond to a request for comment.
Confidential Settlement Agreement
"The parties have now resolved on a confidential basis all of the claims and allegations that Mr. Schiraldi has previously made against Deutsche Bank and its personnel," Deutsche Bank said in a statement.
Financial Impact on Deutsche Bank
Deutsche Bank said that there would be "only a small financial impact" on its third quarter earnings.
Additional Information
($1 = 0.8606 euros)
(Reporting by Tom Sims, Editing by Miranda Murray)
