Deutsche Bank claims €500m lawsuit over derivatives losses is 'without foundation'

clock • 1 min read
Deutsche Bank claims €500m lawsuit over derivatives losses is 'without foundation'

Deutsche Bank said it would vigorously defend itself against a lawsuit "without foundation" by Ibiza-based Palladium Hotel Group claiming substantial losses on derivatives products. The German bank's statement was in response to a lawsuit by Palladium Hotel Group which is suing Deutsche for €500m in damages following the sale of foreign exchange derivatives, the Financial Times reported on 13 October. "Palladium's claim is without foundation and we will be vigorously defending ourselves against...

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