Japanese school operator sues Deutsche Bank

Old School Desk

Deutsche Bank’s Japan units were sued by a Japanese school operator for 9 billion yen ($76 million) in compensation for losses on derivative transactions.

Bloomberg News reports that Nanzan School Corp filed the lawsuits in the Tokyo District Court, the Nagoya-based company said on its website on Friday, arguing that the German firm’s banking and brokerage units in Japan failed to explain risks of the transactions.

UBS AG and Nomura were also sued by the school operator last year for a total of 8.8 billion yen in compensation. Nanzan is among Japanese companies that lost money from investing in structured products during the global financial crisis in 2008.

Hit the link below to access the complete Bloomberg News article:

Deutsche Bank Sued by Japan School on Derivative Losses

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