GETTYThirty-one Postbank shareholders are sueing Deutsche Bank over a takeover deal
The 31 shareholders have demanded a total of £660 million in compensation after they accused the German bank of paying them too little for their shares in the acquisition of Postbank, another bank.
Oliver Krauss, a lawyer at Munich-based firm Tricon, said Deutsche Bank should have paid his 31 clients around 64 euros per share rather than the 25 euros they received when they accepted the takeover offer of Postbank in 2010.
They argue, in a suit filed in late December, Deutsche Bank effectively took control of Postbank in 2008 when it bought a stake of just under 30 per cent at a much higher price than 25 euros.
They added that as a result Postbank shareholders are entitled to a much higher price for their holdings.