U.S. headquarters of Deutsche Bank at 60 Wall Street in Manhattan. Photo: Michael Nagle/Bloomberg
A Manhattan federal appeals court on Friday denied whistleblower awards for three men who claimed to have provided crucial information that led to a $55 million settlement to resolve allegations Deutsche Bank AG hid $1.5 billion in losses during the 2008 financial crisis.
The ruling, from the U.S. Court of Appeals for the Second Circuit, upheld the U.S. Securities and Exchange Commission’s determination that the owners of a Toronto-based consulting firm, and a third, unnamed petitioner, did not provided original information that led to the successful enforcement action in 2015.
