(Bloomberg) -- Deutsche Bank AG asked Germany’s top civil court if it can appeal a ruling that ordered it to increase payments to a group of former Postbank investors in the long-running litigation that has already cost Germany’s biggest lender hundreds of millions of euros.
Deutsche Bank has filed the motion “to protect the interests of the bank and its shareholders,” a spokesman for the lender said in an emailed statement.
The Cologne Appeals Court last month upheld a judgment in favor of investors who were seeking a total of €100 million ($106 million) and denied Deutsche Bank the right to appeal. That judgment, if it stands, is also likely to influence other litigation still pending in a lower court.
The legal clash dates back to Deutsche Bank’s acquisition of Postbank and the amount it offered in its 2010 takeover bid. At the time, Deutsche Bank promised €25 per Postbank share. The investors said they should have received €57.25 — the price the stock was trading at in 2008 when Deutsche Bank first bought shares of its then competitor.
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