Ackermann To Pay €3.2M To Settle Mannesmann Case

Law360, New York (November 27, 2006, 12:00 AM EST) -- Deutsche Bank AG CEO Josef Ackermann has reached a settlement in his ongoing criminal trial, agreeing to pay €3.2 million to settle charges that he illegally awarded bonuses to several executives of telecommunications company Mannesmann AG.

The settlement, which must still be approved by a judge, would bring an end to the much-publicized trial over the bonuses and the second time Ackermann has gone to court in the Mannesmann case.

"Pursuing the proceedings for an indefinite ongoing period would involve an unjustifiably high amount of effort,...
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