Fraud charges and shareholder revolt at Deutsche Bank

‘The general meeting in Frankfurt, attended by about 5,000 shareholders, gave rise to fierce criticism of the corporate executives’ policies. Anju Jain and Jürgen Fitschen received only about 61 percent of the vote, instead of the customary 95 percent. The financial pages of major media outlets proclaimed that a “shareholder revolt” and even a “revolution” had taken place.

Booing and howling rebukes, shareholders railed against the numerous legal suits involving the financial institution, and the horrendous penalties curtailing the bank’s profits and consequent investor dividends. Having registered a market capitalisation of €43 billion in April, Deutsche Bank ranked at only 46th place among the major international banks.’

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