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Deutsche Opts To Settle ERISA Suit Amid Looming Trial

Law360 (July 11, 2018, 6:14 PM EDT) -- Deutsche Bank has agreed on the cusp of trial to settle an Employee Retirement Income Security Act class action alleging it shortchanged workers by funneling their retirement savings into funds that paid the bank exorbitant fees, documents filed in New York federal court show.

U.S. District Judge Lorna G. Schofield said Deutsche and the plan participants had notified the court of an agreement in principle they reached over the weekend. On Monday, when the trial was slated to begin, she issued a one-page order requiring the...
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