FILE - In this June 9, 2015 file photo the headquarters of Deutsche Bank is photographed in Frankfurt, Germany. Shares in Deutsche Bank AG plunged Friday, Sept. 16, 2016, after the revelation that the U.S. Department of Justice is seeking US dollar 14 billion to settle civil claims over its handing of residential mortgage-backed securities. (AP Photo/Michael Probst, file)

FILE - In this June 9, 2015 file photo the headquarters of Deutsche Bank is photographed in Frankfurt, Germany. Shares in Deutsche Bank AG plunged Friday, Sept. 16, 2016, after the revelation that the U.S. Department of Justice is seeking US dollar ... 14 billion to settle civil claims over its handing of residential mortgage-backed securities. (AP Photo/Michael Probst, file) (The Associated Press)

Shares of Deutsche Bank plunge amid US legal dispute

Markets Associated Press

Shares in Deutsche Bank AG have plunged after the company said the U.S. Department of Justice is seeking $14 billion to settle civil claims over its handing of residential mortgage-backed securities.

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Shares of Germany's biggest bank were down 7.8 percent at 12.20 euros ($13.59) in early Frankfurt trading on Friday.

The bank said early Friday that the Justice Department had proposed a $14 billion settlement and asked for a counterproposal. It said it had "no intent to settle these potential civil claims anywhere near the number cited."

Deutsche Bank is in the middle of a painful transition as it tries to meet tougher regulatory requirements, cut costs and settle multiple legal investigations.