Deutsche Bank Can't Nix Class Action Over Traders' Spoofing
By Melissa Angell (September 21, 2021, 9:16 PM EDT) -- An Illinois federal judge ruled that Deutsche Bank can't yet ax a proposed class action seeking to hold it responsible for two former traders' alleged 2013 illegal spoofing schemes, finding that further information is needed to determine if trading firm Rock Capital Market and others behind the lawsuit have established standing.
In a 10-page Monday order denying Deutsche Bank's motion to dismiss, U.S. District Judge Joan B. Gottschall said that the bank, Rock Capital and others behind the consolidated class action must first address if the complaint alleges facts that are sufficient to support standing. If standing can't be established, the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!