Deutsche Bank Pushes To Kill MBS Fraud Suits

Law360, New York (November 23, 2011, 6:20 PM EST) -- Deutsche Bank AG on Wednesday pressed a federal judge to toss lawsuits that claim it secretly bundled masses of junk loans into $1.3 billion in troubled residential mortgage-backed securities it sold, arguing the securities' two buyers should have been more diligent.

Brussels-based lender Dexia SA and pension manager Teachers Insurance & Annuity Association claim in related fraud suits that Deutsche Bank executives privately called its RMBS, made of pooled subprime mortgages, “pigs” and “crap,” even as it touted them as high-quality investments.

But the two investors,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Dexia SA/NV et al v. Deutsche Bank AG et al


Case Number

1:11-cv-05672

Court

New York Southern

Nature of Suit

Fraud or Truth-In-Lending

Judge

Jed S. Rakoff

Date Filed

August 15, 2011


Case Title

Teachers Insurance and Annuity Association of America v. Deutsche Bank AG et al


Case Number

1:11-cv-06141

Court

New York Southern

Nature of Suit

Fraud or Truth-In-Lending

Judge

Jed S. Rakoff

Date Filed

September 1, 2011

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.