Deutsche Bank (NYSE:DB): Closing price $49.44
Unitech, a property developer in India, which is suing Deutsche in regards to an interest-rate swap agreement, has advised a judge in the United Kingdom that it wants to add claims to the lawsuit that the lender manipulated Libor. The plaintiff’s $150 million loan and related swap contract is invalid as they were linked to Libor, which had been improperly fixed by banks that included Deutsche Bank, say the company’s filings for a London court hearing on Monday. In March 2012, DB sued the Indian firm, saying that it owed $11 million under the swap and had missed payments; Unitech countersued in May alleging the swap was not suitable or properly explained.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>