Deutsche Bank Prevails In Shareholder Class Actions

Law360, New York (August 17, 2007, 12:00 AM EDT) -- A district court judge has sided with Deutsche Bank AG and dismissed three consolidated proposed class actions, finding that the named shareholders did not have the standing to sue on behalf of others who own shares in different funds.

Judge Deborah Batts of the U.S. District Court of Southern New York on Tuesday agreed to toss the lawsuit, which accused Deutsche Bank and its subsidiary, Scudder Investments, of charging excessive fees to mutual fund shareholders.

Looking at Article III of the U.S. Constitution, which gives the...
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