Akamai, Deutsche Bank Settle $217M Suit Over ARS

Law360, New York (December 20, 2011, 2:28 PM EST) -- Akamai Technologies Inc. and Deutsche Bank AG told a Massachusetts federal judge on Monday that they had reached a settlement in a suit alleging a Deutsche subsidiary wrongfully invested $217 million in auction rate securities.

The German bank and the Cambridge, Mass.-based technology company submitted a joint motion to dismiss the complaint to U.S. District Judge Joseph L. Tauro. The companies are keeping the settlement amount and other details confidential.

“Akamai and DB state that they have resolved all disputes between the parties,” the motion said....
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