This is why media companies have reporting standards: Presumably Reuters will be able to legally prove its claims in an April 2 story about a Greek bank's questionable property deals. It's going to get that chance, because the bank just sued the news agency. Piraeus Bank wants €50 million ($66 million) for what it says was a defamatory report by a company and reporter that wanted to "harm the entire Greek banking system," Reuters reports in a story we're sure no one there wanted to write. In fact, Reuters is the only agency we've seen reporting on the story.
At issue is reporter Stephen Grey's account of a series of property deals the Greek bank made with the family of one of its executives. The bank says the story's patently untrue: "The bank never bought or leased any property, particularly illegal ones, from its chairman or his family," the suit claims, according to Reuters. Reuters is standing by the story, saying it can prove its claims through public records. The bank says it has evidence the story was inaccurate. Grey apparently feels comfortable about the lawsuit to joke about it on Twitter, quipping "time to flee to the Caymans."