A former Deutsche Bank AG trader whose conviction for rigging the Libor rate benchmark was overturned has begun a $30 million legal action in New York accusing the German bank of malicious prosecution for making him a scapegoat.
Gavin Black, who worked on the bank's money market and derivatives desk in London, said Deutsche Bank and others conspired to commit "malicious prosecution and abuse of process," leading to his unjustified conviction.
Deutsche Bank did not immediately respond to requests for comment. Seth Levine, a lawyer for Black, declined to comment.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of Canada hikes rates, becomes first major central bank to signal pauseThe Bank of Canada on Wednesday hiked its key interest rate to 4.5%, the highest level in 15 years, and became the first major central bank fighting global inflation to say it would likely hold off on further increases for now.
Read more »
Why Were Germany and the US Reluctant to Send Tanks to Ukraine?Why were the US and Germany reluctant to send tanks to Ukraine before Tuesday? See potential bias and similarities in coverage from NRO, dwnews and TIME: Ukraine Tanks
Read more »
These 6 low-debt global stocks are set to outperform, investment bank saysTwo European stocks on the list stand out for having a negative debt-to-equity ratio and potential upside of around 20%.
Read more »
EUR/USD prints four-day uptrend as Purchasing Managers Indexes, European Central Bank talks loomEUR/USD grinds near intraday high surrounding 1.0880 as the pair buyers stay in the driver’s seat for the fourth consecutive day heading into Tuesday’
Read more »
Bank funding for renewables stagnates vs oil and gas - reportThe share of bank finance going to renewable energy rather than fossil fuels has little changed in six years, raising questions about how fast lenders are pushing energy clients to become greener, according to research published Tuesday.
Read more »