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,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.