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Deutsche Bank loses suit over investor losses

Deutsche Bank loses suit over investor losses

A German court has ruled that Deutsche Bank didn't sufficiently disclose the risks when selling one of its financial products to an investor.
The Federal Court of Justice said Tuesday that Germany's biggest bank must pay the company, Ille Papier-Service GmbH, a little more than half a million euros plus interest in recompense.
The ruling could influence the outcome of dozens of disputes between Deutsche Bank and small companies and local governments who entered into so-called interest-rate swap deals. The intention was to lower their interest payments.


Updated : 2021-06-13 14:16 GMT+08:00