Bloomberg News

Deutsche Bank Faces Lawsuit Over Libor Fixing, Spiegel Reports

July 09, 2012

B. Metzler Seel. Sohn & Co. KGaA is seeking damages from Deutsche Bank AG and other lenders for allegedly putting pressure on Libor in 2007 and 2008 to reduce their refinancing costs, Der Spiegel reported, without saying where it got the information.

A Metzler investment company filed the lawsuit in a New York court, according to the German magazine. Metzler couldn’t immediately be reached for comment.

Armin Niedermeier, a spokesman for Deutsche Bank, declined to comment on the report. He referred Bloomberg News to the bank’s March statement that it’s cooperating with regulators in an investigation of suspected manipulation of interbank lending rates and that litigations against Deutsche Bank in this matter are “in their early stages.”

To contact the reporters on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net; Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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