Citing Fait, Deutsche Bank Tries To Nix Securities Action

Law360, New York (August 31, 2011, 5:14 PM EDT) -- Deutsche Bank AG argued Wednesday that the Second Circuit's recent ruling in Fait v. Regions Bank — which held that mere opinions about financial performance didn't create liability — meant a judge should dismiss a multibillion-dollar securities fraud class action against it.

On Aug. 19, U.S. District Judge Deborah A. Batts dismissed claims related to a 2006 stock offering in a suit accusing the Frankfurt-based financial giant of making false and misleading statements about its exposure to real estate-related losses, but refused to throw out allegations...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.