OSLO, June 2 (Reuters) - Norway’s Consumer Council must be allowed to proceed with a class action lawsuit against top bank DNB on behalf of 180,000 customers, the Borgarting appeals court ruled on Friday, affirming the decision of a lower court.
DNB will consider whether to appeal against the decision, a spokesman said.
The bank had argued that the case to reclaim some 690 million Norwegian crowns ($81.84 million) on behalf of investors in funds it managed did not fit the requirements for a class action lawsuit.
The case centres on whether DNB, charging customers for so-called active fund management, had in fact covertly been tracking a stock index - a claim DNB denies.
$1 = 8.4315 Norwegian crowns Reporting by Terje Solsvik; Editing by Adrian Croft