Bloomberg News reports that the decision came after a Frankfurt appeals court urged the parties to settle at a hearing Friday. The judges were reviewing Deutsche Bank’s bid to overturn a labor court ruling that the traders were improperly dismissed because the lender didn’t have processes in place to prevent conflicts of interest when submitting data to calculate interest-rate benchmarks.
'There are risks for both sides', Presiding Judge Astrid Nungesser told the parties at the hearing today. 'You should consider court-mediated talks'.
Last year, the Frankfurt Labor Court ordered the bank to reinstate the employees, who made submissions for Euribor and Swiss Franc Libor.
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