June 6, 2019

Media reports on cum/ex transactions: our statement

The German daily Süddeutsche Zeitung published an article today stating that the scope of cum/ex investigations at Deutsche Bank and at other banks has been broadened. It reports that investigations now include roughly 70 current and former employees of the bank.

Deutsche Bank's statement:

Since 2017 the Cologne Public Prosecutor is investigating two former employees of Deutsche Bank in connection with Cum/Ex transactions of former clients. Recently, the prosecutor has initiated investigations against further former and current employees and management board members. This was purely for reasons of interruption of the limitation period. This is a common practice and the prosecutor has proceeded in the same way with other banks. The Bank does not assume that this procedural measure is based on a changed assessment of the facts by the public prosecutor. This has also not changed the Bank's assessment of the facts of the case. Deutsche Bank did not participate in an organized cum/ex market, neither as short seller nor as Cum/Ex purchaser.