Piraeus Bank in Athens has sued both the news agency, a unit of Thomson Reuters Corp, and the article's author, reporter Stephen Grey. The lawsuit accuses Reuters of malicious defamation and of wishing "to harm the entire Greek banking system."
The Reuters special report, headlined "A Greek banker's secret property deals" and published on Apr. 2, reported Piraeus had rented at least seven properties that were owned by a series of private investment companies directed among others by the wife and two children of the bank's executive chairman, Michalis Sallas, and financed by Piraeus bank loans.
The lawsuit says: "The bank never bought or leased any property, particularly illegal ones, from its chairman or his family."