No Class Cert. For Deutsche Fraud Suit: 9th Circ.

Law360, New York (July 29, 2009, 8:32 PM EDT) -- A federal appeals court has upheld a decision to deny class certification in a long-standing securities fraud suit alleging Deutsche Bank Securities Ltd. manipulated the stock price of an Internet company.

In a decision handed down Wednesday, the U.S. Court of Appeals for the Ninth Circuit ruled that the U.S. District Court for the Central District of California did not err when it denied class certification in the suit because individual questions of reliance predominate over the common claims.

Filed by investors in 2001, the suit...
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