Deutsche Bank Ordered to Pay Fired Rate Traders $500,000
This article is for subscribers only.
Four Deutsche Bank AG traders who won reinstatement of their jobs after they were dismissed following an internal probe into rate-rigging were awarded almost $370,000 ($500,000) in back pay.
The total monthly pay of the four men, who were fired in February, ranged from 10,833 euros to 22,083 euros on average, according to the written version of the judgment made Sept. 11 and released by the Frankfurt Labor Court yesterday. The men, whose names weren’t disclosed, returned to work on Nov. 4, according to the bank.