BNP Wins Dismissal of $186 Million ‘Fat-Finger’ Trader Suit
- German judges say they don’t have jurisdiction to hear case
- Investor has already filed an action at a Paris court
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BNP Paribas SA won dismissal of a German lawsuit by a trader seeking 163 million euros ($186 million) for a “fat-finger” mistake in a 2015 transaction.
The Frankfurt Regional Court on Feb. 26 ruled it can’t look into merits of the case, which involved an error on the bank’s system that displayed derivatives priced at 108.80 euros each instead of 54,400 euros each. Judges held the investor should have sued in France rather than Germany, a spokeswoman for the tribunal said Thursday.