DGAP-News: SCHIRP & PARTNER Rechtsanwälte mbB / Key word(s): Legal Matter/Takeover
20.10.2017 / 15:40
The issuer is solely responsible for the content of this announcement.
Former shareholders of Deutsche Postbank AG (ISIN DE0008001009/(WKN 800100); ISINDE000A1E8HP5/ (WKN A1E8HP)) who accepted Deutsche Bank's offer of EUR 25.- per Postbank share win in front of the Regional Court of Cologne, Germany and get additional compensation up to the fair value of EUR 57.25 per Deutsche Postbank AG share.
Background: The Deutsche Bank AG submitted a takeover offer on October 7th, 2010 to the shareholders of Postbank at a share price of EUR 25.- per each Postbank share. The plaintiffs claimed that this offer was much too low. They demand additional EUR 32.25 per share, up to the fair market value of EUR 57.25. In their view the Deutsche Bank AG would have had to make a higher offer already in September 2008. The plaintiffs could prove 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. This is a violation of German takeover law which basically entitles outstanding Deutsche Postbank AG shareholders to claim compensation at the higher 2008 level.
All former shareholders of Deutsche Postbank AG who held shares of Deutsche Postbank AG at October 7th, 2010 and accepted Deutsche Bank's offer of EUR 25.- per Postbank share are entitled to additional compensation up to the fair value of EUR 57.25 per Deutsche Postbank AG share. As a result, Deutsche Bank AG is exposed to up to EUR 1.5 billion of additional claims.
Litigation lawyer Antje Radtke-Rieger, Schirp & Partner:
"Shareholders should act now, before the expiry of the limitation period December 31st, 2017."
The German law firm Schirp & Partner based in Berlin prepares further lawsuits and a collective civil law action with already a volume of more than EUR 100 million.
Affected shareholders should act now. The statutory limitation will end on December 31, 2017.
Person of contact:
Schirp & Partner Rechtsanwälte mbB
Lawyer Antje Radtke-Rieger
Leipziger Platz 9
10117 Berlin
Phone: +49 (0)30 327 617 0
Fax: +49 (0)30 327 617 17
E-Mail: radtke-rieger@ssma.de
http://ssma.de
20.10.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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