Citing Fait, Deutsche Bank Tries To Nix Securities Action

Law360, New York (August 31, 2011, 5:14 PM EDT) -- Deutsche Bank AG argued Wednesday that the Second Circuit's recent ruling in Fait v. Regions Bank — which held that mere opinions about financial performance didn't create liability — meant a judge should dismiss a multibillion-dollar securities fraud class action against it.

On Aug. 19, U.S. District Judge Deborah A. Batts dismissed claims related to a 2006 stock offering in a suit accusing the Frankfurt-based financial giant of making false and misleading statements about its exposure to real estate-related losses, but refused to throw out allegations...
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