05:54 AM EDT, 08/16/2024 (MT Newswires) -- Deutsche Bank's ( DB ) settlement offer for shareholders, who sued the company for underpaying them following its Postbank acquisition, was rejected for being too low, Reuters reported Friday, citing Jan Bayer, a lawyer for the plaintiffs.

The bank's settlement deal offers to pay the shareholders 36.50 euros ($40.08) per Postbank share, according to the report. Reuters said Deutsche Bank ( DB ) had earmarked 1.3 billion euros for the payout but the bank declined to comment on how its settlement offer fares with this budgeted fund.

A Deutsche Bank ( DB ) spokesperson told MT Newswires that the company remains in settlement talks with groups of plaintiffs related to several Postbank takeover proceedings and cannot comment on the status of the discussions.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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