Warburg Seeks $197 Million From Deutsche Bank in Cum-Ex Case (1)

M.M. Warburg & Co. has nearly quadrupled the amount it’s seeking from Deutsche Bank AG in a German lawsuit over the Cum-Ex tax scandal, according to people familiar with the case.

The private bank is now asking for 166 million euros ($197 million) ahead of a hearing in the case Monday in Frankfurt.

In the case, which has been pending since 2018, Warburg is seeking to have Deutsche Bank pay its tax liabilities stemming from so-called Cum-Ex transactions. The private bank, which dates back to 1798, expanded the lawsuit after it received two new tax bills from revenue officials in ...