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DGAP-News News vom 06.06.2017

Deutsche Bank AG: Representative Legal Action for Capital Investors regarding the Postbank-Takeover

DGAP-News: Schirp Neusel & Partner Rechtsanwälte mbB / Key word(s): Offer/Mergers & Acquisitions

06.06.2017 / 08:44
The issuer is solely responsible for the content of this announcement.


In 2015 the Deutsche Postbank AG became a wholly owned subsidiary of the Deutsche Bank AG, but still there is no end of claims and litigations in sight. Former shareholders of Deutsche Postbank AG (WKN 800100/ISIN DE0008001009) claim that they have been cheated in 2010, when the Deutsche Bank AG issued their takeover offer. Represented by the Berlin based law firm Schirp Neusel & Partner Rechtsanwälte mbB, several of these former shareholders filed an action against the Deutsche Bank AG at the regional court of Cologne. The plaintiffs demand a payment of 32.25 Euros per each Postbank share. This adds up to quite an amount, because in case of a victory in front of court the former shareholders of the Deutsche Postbank AG can - in total - demand up to 1.6 billion Euros.

And now there is a new momentum: There will be a Representative Legal Action on the basis of German Statute governing Representative Legal Actions on the basis of capital markets disputes (Kapitalanleger-Musterverfahrensgesetz "KapMuG") and it is the law firm Schirp Neusel & Partner Rechtsanwälte mbB that filed all applications for the plaintiffs.

From this Representative Legal Action all plaintiffs will take advantage, because the court will give a consistent answer to all relevant legal questions that is binding for all plaintiffs. But also, all former shareholders of the Deutsche Postbank AG will benefit - even so they haven't taken any legal action so far. These shareholders can connect inexpensively to the legal proceedings with a highly reduced litigation risk.
 

Lawyer Antje Radtke-Rieger LL.M. (VUW) of Schirp Neusel & Partner:

"The Representative Legal Action is unrivaled in terms of low legal costs. This is a great chance for all former shareholders of the Deutsche Postbank AG, who haven't taken any action so far. I believe we will have a flood of lawsuits filed against the Deutsche Bank AG."

Just a brief summary of what happened: The Deutsche Bank AG made a takeover offer in October 2010, when they offered the shareholders of Postbank a share price of 25 Euros per each Deutsche Postbank share. The plaintiffs believe that this offer was much too low. They demand additional 32.25 Euros per share. In their view the Deutsche Bank AG would have had to make a higher offer already in September 2008 or the latest in January 2009 according to the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz "WpÜG"). They argue that at that time the Deutsche Bank AG had already control of the Deutsche Postbank AG, although the majority of shares was still held by the Deutsche Post AG.
 

Lawyer Antje Radtke-Rieger LL.M. (VUW) of Schirp Neusel & Partner:

"We have evidence that the Deutsche Bank AG was in the driver seat of the Deutsche Postbank AG much earlier than they officially admit. Given this situation, Deutsche Bank AG had to issue their takeover offer earlier and to a higher share price."

The statutory limitation will end on December 31, 2017. Former shareholders of the Deutsche Postbank AG should act right now. Aggrieved investors can receive additional and free information from:
 

Schirp Neusel & Partner Rechtsanwälte mbB
Antje Radtke-Rieger
Leipziger Platz 9
10117 Berlin
Tel. 030 327 617 0
Fax 030 327 617 17
E-Mail: [email protected]
http://ssma.de



06.06.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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