(Bloomberg) -- Deutsche Bank AG has reached a settlement with another plaintiff in the dispute over its purchase of retail lender Postbank, marking another step on its path to draw a line under one of its longest-running legal sagas.
The settlement includes an additional payment €36.50 ($40.739) per share on the price Deutsche Bank paid at the time and also covers costs following legal guidelines. Some other claims remain, including roughly a dozen that are expected to be decided at a higher regional court hearing in October.
“We confirm that we have now also reached a settlement with the first plaintiff from the second proceeding pending before the Higher Regional Court of Cologne,” a spokesman for the lender said on Friday.
Deutsche Bank previously reached agreements with plaintiffs representing almost 60% of the total claims, allowing it to release a large chunk of the provisions it had made for the Postbank cases. Another key plaintiff who owned 150,000 shares of Postbank also agreed to settle shortly after.
Deutsche Bank earlier this year set aside €1.3 billion in provisions for the lawsuits from ex-Postbank investors, and shelved plans for more share buybacks. It has since said it would review its plans for investor payouts again, as the settlements allow it to release some of those provisions.
(Updates with Deutsche Bank statement in the third paragraph)
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