Deutsche Bank Defeats Massive RMBS Class Action

Law360, New York (August 10, 2012, 9:47 PM EDT) -- A New York federal judge on Friday tossed a multibillion-dollar securities fraud class action against Deutsche Bank AG, ruling that to survive the standard set in the Fait v. Regions Bank ruling, plaintiffs needed to show the bank hadn't believed its financial statements on its real estate exposure.

U.S. District Judge Deborah A. Batts granted Deutsche Bank's request to reconsider her Aug. 19 decision to keep alive the consolidated class actions accusing the Frankfurt, Germany-based financial giant of making false and misleading statements about its exposure...
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