Juergen Fitschen, the co-chief executive of Deutsche Bank, is being investigated due to a dispute regarding the collapse of the Kirch media conglomerate over a decade ago, writes Patrick Brusnahan.
Fitschen, who recently extended his contract with Deutsche Bank, is said to have supplied misleading evidence.
The suit was brought to the forefront by the heirs of media entrepreneur, Leo Kirch, who argued that former Deutsche Bank chief executive, Rolf Brueur, had ruined the company by publicly questioning its creditworthiness.
The bank strongly denies the 10 year old claims, its statement claiming that they are ‘absolutely convinced that this suspicion will prove to be unfounded’ and are certain of Fitschen’s exoneration.
The case adds to growing worries over Deutsche Bank’s legal troubles and fees. Conversely to some of its top competitors, the bank is still to reach a settlement over Libor-related litigations.