Deutsche Bank faces another lawsuit

Pointing Finger

Deutsche Bank, already troubled by lawsuits and official investigations, faces another challenge.

A group of lawyers said on Monday that they planned to sue the company in British court, accusing the bank of using high-speed trading software to profit in foreign currency markets at the expense of customers.

The New York Times reports that the lawsuit is to be filed later this year on behalf of companies, investors and even some central banks that frequently buy and sell currencies.

The lawsuit would mirror one filed in New York last month by some of the same law firms. That lawsuit asserts that Deutsche Bank used a software platform known as Autobahn to take advantage of millisecond changes in exchange rates to give clients worse prices than they were entitled to.

Deutsche Bank denied the claims in the lawsuit, saying in a statement Monday: “We disagree with the allegations and will be defending ourselves in court.”

To access the complete New York Times article hit the link below:

Deutsche Bank to Face British Lawsuit Over High-Speed Trading

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