Commerzbank Banker Who Says He Was Told to ‘Shut Up,’ Drops CaseBy
Najam Khan withdrew suit, will pay some costs, bank says
Deal reached before Commerzbank executives were due in testify
A former Commerzbank AG executive who said he was told to “shut up," harassed and eventually let go after he blew the whistle on corporate misconduct, dropped his London employment lawsuit with the German lender midway through the case.
Najam Khan, the former head of corporate finance and Middle East Islamic finance in Dubai, withdrew the claims and agreed to pay a share of Commerzbank’s legal fees, the lender said in a statement Tuesday. The case was adjourned Monday shortly before Commerzbank executives were due to testify while both sides negotiated an agreement to end the proceedings.
"We are pleased that Mr. Khan has withdrawn the entirety of his claims against the bank and that the matter has now been formally dismissed by the employment tribunal," a Commerzbank spokesperson said Tuesday. "Mr Khan will be making a contribution toward Commerzbank’s costs in defending the claims.”
Allison Grant, a lawyer for Khan declined to comment Monday. Calls and an e-mail following confirmation Khan had withdrawn the suit Tuesday weren’t immediately returned.
Khan said while giving evidence Thursday that the bank ignored his repeated concerns over the lender’s failures to properly separate the private and public sides of the business and that a 2016 layoff was used to terminate him after he reported the issues.
— With assistance by Suzi Ring