Former Deutsche Bank Director Files Whistleblower Lawsuit after Being Fired for Reporting Client Overcharges

 Former Deutsche Bank Director Files Whistleblower Lawsuit after Being Fired
                       for Reporting Client Overcharges

Federal Whistleblower Lawsuit Alleges Serious Systemic Breakdowns in Deutsche
Bank Trading Operations, Including Improper Tax Charges to Clients, Accounting
Gaps and More

PR Newswire

NEW YORK, March 6, 2013

NEW YORK, March 6, 2013 /PRNewswire/ --Deutsche Bank has been named as a
Defendant in a federal whistleblower lawsuit filed today by Gary DeDilectis, a
former Director of Operations at DB. As alleged in the Complaint, Mr.
DeDilectis was fired in retaliation for raising the alarm about critical
breakdowns in DB's electronic trade processing systems and accounting
procedures, including charging clients for government fees that they did not
owe. Mr. DeDilectis was fired without explanation or notice shortly after
warning DB's senior management about the serious legal and business
implications of these problems. Until his termination, Mr. DeDilectis
performed his job at a very high level, and was singled out for praise by his
direct supervisor and others in the months before he was fired.

Mr. DeDilectis's lawsuit was filed in federal court in Manhattan today and is
based upon the whistleblower protections of the Sarbanes-Oxley Act. The
Complaint in the lawsuit details Mr. DeDilectis's efforts to stop and fix
recurring overcharges to clients and other widespread problems in DB's
securities trading operations, which placed clients in danger of excessive tax
charges, misapplied dividend payments and other losses. The Complaint also
provides examples of DB senior management's attempts to intimidate and
discourage Mr. DeDilectis from pursuing these issues and reporting them in
writing. Mr. DeDilectis's colleagues were shocked by his sudden firing, and
expressed support for him after his departure from DB.

Mr. DeDilectis stated that, "I always did my absolute best to protect the Bank
while putting our clients' interests first, and I was crushed when I learned I
was losing my job as a result. Now I am determined to vindicate my choice to
do the right thing." Douglas H. Wigdor, a partner at Thompson Wigdor LLP who
also represents many other individuals in whistleblower cases under federal
and state law, said, "This is another clear instance of a large financial
institution making an example of an employee who refused to stay silent about
alleged wrongful conduct. In this case, they fired Mr. DeDilectis because he
had the integrity to be persistent in reporting potential fraud and unlawful
activity at a time when the Bank is dealing with a host of financial and legal
scandals. This is a brazen act of retaliation and we look forward to holding
Deutsche Bank and its executives accountable for their outrageous actions."
Lawrence M. Pearson, a senior associate at Thompson Wigdor LLP, commented,
"Mr. DeDilectis and his family have been severely affected by his termination,
and we are proud to be working with him to achieve a just result in his

The case is entitled Gary DeDilectis v. Deutsche Bank Securities, Inc. and
Deutsche Bank AG, Case No. 13 CV 1504, and was filed in the U.S. District
Court for the Southern District of New York. Additional information about the
case can be obtained from and all inquiries may be directed to Douglas H.
Wigdor at the offices of Thompson Wigdor LLP in New York, New York at (212)

About Thompson Wigdor: Thompson Wigdor LLP ( 
is a law firm specializing in high-profile, complex litigation and
investigations as well as civil and criminal trials. They can be reached at
(212) 257-6800 or

SOURCE Thompson Wigdor LLP

Contact: Douglas H. Wigdor, Thompson Wigdor LLP, +1-212-257-6800,
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