E-Trade $23M Contract Win Bests Deutsche Appeal

Law360, New York (April 1, 2010, 4:11 PM EDT) -- A federal appeals court has brushed aside Deutsche Bank AG’s challenge to a district court judgment awarding E-Trade Bank roughly $17.5 million in damages and $5.5 million in attorneys’ fees for Deutsche Bank’s overvaluation of a recreational vehicle loan business it sold in 2002.

Flatly rejecting Deutsche Bank’s arguments, the U.S. Court of Appeals for the Second Circuit affirmed the $23 million judgment Tuesday, concluding that E-Trade is indeed entitled to recover amounts it overpaid on the $60 million deal, rather than addressing the contractual grievances...
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