Crime doesn’t pay, the saying goes, and at least three major companies are seeing some truth in that adage. Deutsche Bank AG, General Motors Co. and Volkswagen Group all saw their bottom lines take a big hit in the third quarter due to their misconduct.
The German-based Deutsche Bank suffered more than $6.5 billion in losses, according to the financial report it announced on Oct. 29. The losses included a huge write-off of intangibles, like goodwill, plus more than $1.3 billion in litigation charges and an increase of more than $1 billion in litigation reserves as it continues to fight off lawsuits and regulators over its misconduct.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
