Law360, New York (February 08, 2012, 12:45 PM ET) -- A New York federal judge on Monday threw out a pair of related complaints alleging Deutsche Bank AG sold $1.3 billion in toxic residential mortgage-backed securities while betting the underlying loans would fail.
U.S. District Judge Jed S. Rakoff granted Deutsche Bank’s motion to dismiss the lawsuits filed by Brussels-based lender Dexia SA and pension manager Teachers Insurance & Annuity Association. The plaintiffs alleged Deutsche Bank executives touted investments in its RMBS, made of pooled subprime mortgages, even as it secretly called the securities “pigs” and...
Deutsche Bank Dodges 2 Suits Alleging $1.3B MBS Fraud
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