Deutsche Bank Reaches Deal In MBS Case Tied To $1B Short
By Stewart Bishop
Law360, New York (January 2, 2014, 5:54 PM EST) -- Deutsche Bank AG has settled a putative shareholder class action accusing the bank and former principals of touting risky mortgage-backed securities to investors even as top bank executives authorized a star trader to make a $1 billion bet against the notes, according to a Thursday filing in New York federal court.
In a letter to U.S. District Judge Katherine B. Forrest, Deutsche Bank said it has reached a settlement in principle with the investors, which it expects to be finalized within the next 30 days. Terms of...