Deutsche Bank faces anger over law suits

SHAREHOLDERS heckled Deutsche Bank’s new leaders about the bank’s legal problems at a meeting yesterday, fearing Germany’s flagship lender is becoming distracted by a flurry of scandals and investigations.

Representatives of deceased media magnate Leo Kirch forced Deutsche Bank to convene an extraordinary shareholder meeting after contesting the resolutions of the annual general meeting in 2012 as part of a long-running legal battle.

Klaus Nieding, a lawyer representing DSW, Germany’s largest association for private investors said: “Enough is enough. Shareholder rights are being abused. A private vendetta is being carried out at the expense of all shareholders.” Nieding urged representatives of the Kirch Group and Deutsche Bank’s leaders to resolve their dispute, which has been fought out in numerous courtrooms across Germany and the US over the past decade.

Deutsche Bank said it maintained that the claims made by Kirch have no merit and co-CEO Fitschen said there were currently no negotiations to reach a settlement.