Investors claiming to have lost money as a result of the Deutsche Bank’s stock manipulations have filed a lawsuit against the bank and Korea Investment and Securities Co.
According to the Seoul Central District Court on Tuesday, six investors brought a suit against the two institutions seeking 100 million won ($89,000), claiming that an equity linked securities investment program operated by Korea Investment and Securities made a loss due to Deutsche Bank’s stock manipulations.
In the complaint, the investors claimed that Deutsche Bank sold KB Financial Group shares in order to avoid paying those who invested in products that were linked to KB Financial Group’s stock price.
In a separate case in January, the Seoul Central District Court has ruled in favor of 26 plaintiffs who sought compensation from Deutsche Bank in a similar case.
