Deutsche Bank to Hold Shareholder Meeting After Dispute
Investors will vote April 11 in Frankfurt on approving the use of the bank’s 2011 profit, the naming of its auditor and the election of three persons to the supervisory board, Deutsche Bank said today in a statement.
A Frankfurt court ruled in December that the resolutions were invalid after a representative of a shareholder said he wasn’t able to address all points on the May 31 meeting’s agenda, according to a statement on the court’s website.
The court, which didn’t identify the shareholder or her representative, said at the time that the verdict was not legally binding and could be appealed at a higher court. Deutsche Bank hasn’t identified the plaintiffs and has appealed the decision, according to the statement.
Deutsche Bank said it convened the extraordinary meeting to “establish the required legal certainty” and ensure that the lender can hold its annual shareholder meeting on May 23 as scheduled. The bank will postpone the publication of its 2012 report until mid-April, according to the statement.
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