Deutsche Bank Settles €500 Million Spanish Mis-Selling Case.

DEUTSCHE Bank AG ; BLOOMBERG LP 942270000

Deutsche Bank has settled a €500 million ($545 million) claim from Spanish hotel chain Palladium Hotel Group over losses incurred from foreign-exchange derivatives sold by the bank. Palladium alleged that it was sold products it did not understand and accumulated derivatives with a notional amount of up to €5.6 billion. The settlement is part of the bank's €200 million set aside for litigation charges. Deutsche Bank stated that it does not anticipate any further impact from the settlement in the future. [Extracted from the article]

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