A trader fired by Deutsche Bank as part of its Libor-rigging settlement is suing over bonus payments that may total more than $7.7m.
Bloomberg News reports that Yves Paturel filed the suit along with a second trader, Gavin Black, in a London court in January, months before the pair were dismissed in April as part of Deutsche Bank’s settlement for manipulation of the London interbank offered rate with the New York Department of Financial Services. Black has withdrawn his claim, according to his lawyer.
Paturel and Black were seeking 'damages for breach of contract' in relation to bonuses for 2008 and 2009, according to the filing, made available by the court Wednesday. Paturel is the latest in a number of dismissed employees to sue the bank over Libor-related disputes. Four German traders fired in 2013 were reinstated the same year after suing for wrongful termination.
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