Deutsche Bank doesn't like trader restatement ruling

Deutsche Bank - External

Deutsche Bank launched a legal appeal against a German labour court ruling that forced it to reinstate four fired traders, potentially exposing the lender to new embarrassing testimony.

Reuters reports that Deutsche is seeking to reverse a September ruling in favour of four traders who claimed wrongful dismissal after the bank accused them of violating company policy by inappropriately communicating with other traders over benchmark interbank lending rates.

The appeal risks exposing the lender, which already faces a long list of lawsuits and legal actions, to another lengthy process as regulators pore over evidence produced at the first labour court action.

Regulators around the world are investigating the role of Deutsche Bank and other banks and brokers in the global rate- rigging scandal.

To access the complete Reuters article hit the link below:

Deutsche Bank appeals against Libor unfair dismissal

Credit Suisse sets up Swiss subsidiary as crisis lifeboat

Have something to tell us about this article?

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...