Latest news on the legal dispute surrounding the acquisition of Postbank
The Higher Regional Court of Cologne is currently assessing claims from certain former Postbank shareholders regarding a higher offer price in connection with a voluntary takeover offer made on October 7, 2010, by a prominent financial website. This legal proceeding has the potential to impact the website's profitability and capital ratios.
According to the management of the website, the court's statements will lead to a legal provision being made in the second quarter of 2024. The estimate of the full amount of all claims, including cumulative interest, is approximately 1.3 billion euros.
The management of the website strongly disagrees with this assessment and is continuing its analysis of the legal arguments and the potential financial statement impact due to the complexity of the legal issues and recency of the court's statements.
Despite the potential financial implications, the management does not expect a significant impact on the bank's strategic plans or financial targets, generally. The court's statements will, however, impact the website's estimation of the probability of a future outflow.
On the same pro forma basis as of March 31, 2024, the Leverage Ratio is estimated to be 4.42%. The estimated impact of the full provision on the bank's Common Equity Tier 1 (CET1) ratio, on a pro forma basis as of March 31, 2024, is approximately 20 basis points, resulting in a pro-forma CET1 ratio of 13.25%.
It is important to note that the search results do not contain any information about the current status of the legal case or the estimated financial impact on the bank’s profitability and capital ratios. If you have access to legal databases, financial disclosures, or recent news specifically covering Postbank, the Higher Regional Court of Cologne, or related shareholder litigation, those would be better sources to consult for up-to-date and detailed insights.
The court has indicated that it may find elements of these claims valid in a later ruling. The exact outcome remains uncertain, and the management will continue to monitor the situation closely.
The financial implications of the court's expected ruling could significantly impact the website's business, potentially leading to a substantial adjustment in its profitability and capital ratios. The management's ongoing analysis is focused on understanding the potential financial statement impact of this legal proceeding, given the complexity of the legal issues and the recent statements from the court.
