Deutsche Bank has reached a confidential settlement in Frankfurt over a 152 million euro lawsuit filed by former employee Dario Schiraldi, just days before the case was set to go to trial. The dispute stemmed from derivative transactions the bank conducted with Italy’s Monte dei Paschi di Siena in 2008, which prosecutors alleged were used to hide financial losses at the struggling Italian lender. Schiraldi claimed the legal ordeal destroyed his reputation and career in the financial industry. The exact settlement amount remains undisclosed, though Deutsche Bank characterized the impact as << small >> on its third-quarter earnings. The bank also faces additional litigation in London tied to the same MPS derivatives, with total exposure reportedly exceeding 600 million pounds.
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