$217M ARS Suit Against Deutsche Bank Gets Go-Ahead

Law360, New York (February 15, 2011, 6:22 PM EST) -- Akamai Technologies Inc.'s lawsuit alleging a Deutsche Bank AG subsidiary wrongfully invested $217 million in auction rate securities survived a motion to dismiss from the German bank on Tuesday.

Judge Joseph L. Tauro of the U.S. District Court for the District of Massachusetts ruled that Akamai had pled sufficiently that Deutsche Bank Securities Inc. misrepresented the safety and security of the ARS market.

Deutsche Bank argued that the complaint was not sufficiently specific because it did not name individual bank employees who had made false statements...
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