Deutsche Bank Shares Slide , as Cost of Default Insurance Rises.
Markets Insider reports that Deutsche Bank shares dropped 14% on March 24.
Its U.S.-listed shares dropped 11%
in premarket trading.
The losses occurred after insurance against default increased on March 23.
According to Refinitiv,...
Deutsche Bank to Pay $75 Million , to Epstein Victims.
Deutsche Bank has agreed to settle a lawsuit brought by alleged victims of Epstein, AP reports. .
The women claim that the bank should have been aware of evidence pointing to sex trafficking by the late financier and done something about it. .
Instead, the women say that the bank
"chose profit over following the law.".
The $75 million settlement is believed to
be the "largest sex trafficking settlement
with a bank in U.S. history," AP reports. .
The settlement will allow dozens of
survivors of Jeffrey Epstein to finally attempt to restore their faith in our system knowing that all individuals and entities who facilitated Epstein’s sex-trafficking operation will
finally be held accountable, Edwards Pottinger, one of the firms
representing the women, via statement.
Boies Schiller Flexner, another firm representing the women, also commented.
The scope and scale of Epstein’s abuse, and the many years it continued in plain sight, could not have happened without the collaboration and support of many powerful individuals and institutions, David Boies, chairman of Boies Schiller Flexner, via statement.
Deutsche Bank did not comment on the payout but referenced a 2020 statement acknowledging its mistake.
The Bank has invested
more than 4 billion euros ($4.3 billion) to bolster controls, processes and training, and hired more people
to fight financial crime, Frank Hartmann, Deutsche Bank's global head
of media operations, via written statement.
Last year, the bank said the lawsuit "does not come close to adequately alleging that Deutsche Bank ... was part of Epstein’s criminal sex trafficking ring."
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