Deutsche Bank, Fired Euribor Traders Start Settlement Talks
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Deutsche Bank AG and four Euribor rate submitters the lender fired last year agreed to enter court-monitored mediation to resolve the dispute.
The decision came after a Frankfurt appeals court urged the parties to settle at a hearing today. The judges were reviewing Deutsche Bank’s bid to overturn a labor court ruling that the traders were improperly dismissed because the lender didn’t have processes in place to prevent conflicts of interest when submitting data to calculate interest-rate benchmarks.