Germany's Deutsche Bank has a stark warning to European companies borrowing from U.S. lenders: They will drop you when times get tough. The caution, spelled out in an interview with Deutsche Bank board member Fabrizio Campelli, is the latest escalation in a battle with U.S. banks for the business of European firms on its home turf. It comes at a time that the corporate banking unit of Germany's largest lender is seeing a resurgence in the home stretch of an extensive restructuring.
The women, who were not identified in the court filings, cite U.S. federal anti-sex trafficking laws and are seeking class action status, according to two separate lawsuits filed in the U.S. District Court for the Southern District of New York. "We believe this claim lacks merit and will present our arguments in court," Deutsche Bank said in a statement. Representatives for JPMorgan declined to comment on the lawsuit, first reported by the Wall Street Journal.
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