The World from Berlin: 'A Costly Defeat for Deutsche Bank' - SPIEGEL ONLINEQuicklink submitted by Mari Eliza Permalink
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|Germany's highest civil court has ruled that Deutsche Bank should have warned its customers of the risks of an exotic investment product it sold in the run-up to the financial crisis. The landmark ruling has huge implications for the banking industry and could unleash a wave of similar cases, with compensation possibly running into the hundreds of millions... Wave of Cases Expected The landmark decision is the first of its kind and could unleash a wave of other claims. There are dozens of other ongoing disputes between Deutsche Bank and local authorities and companies in Germany that claim they were not properly warned about the risks of investments. Customers of other German banks are also seeking damages.|
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