Deutsche Bank Settles Over Tax Shelters

Law360, New York (February 8, 2007, 12:00 AM EST) -- Signaling a change in its legal strategy, Deutsche Bank AG has agreed to settle with hundreds of investors who were put in conflict with tax collectors when they bought into illegal tax shelters from the German lender.

Terms of the settlement weren’t disclosed, but Deutsche Bank has set aside hundreds of millions of dollars to deal with unspecified legal issues, according to regulatory filings from the past two years.

Recent developments in the legal campaign have painted a grim picture for Deutsche Bank. Last month, Judge...
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