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Report: Vestia sues Deutsche Bank over mis-selling interest rate derivatives

Dutch housing cooperative Vestia Groep sued Deutsche Bank AG alleging that the lender mis-sold interest rate derivatives resulting in a €800 million loss to the Dutch cooperative sector, Reuters reported Dec. 21.

A case was filed against Deutsche Bank in the High Court of Justice in London on Dec. 2 after earlier attempts to seek an out of court settlement with the bank failed, Vestia reportedly said.

A Deutsche Bank spokeswoman denied the claims, Reuters added.