M&T Scores $55M In Deutsche CDO Settlement

Law360, New York (January 17, 2012, 9:38 PM EST) -- M&T Bank Corp. has raked in $55 million under a settlement to end its $82 million lawsuit against Deutsche Bank AG over securities whose value plunged with the 2008 subprime crash, M&T announced Tuesday.

In June 2008, the Buffalo, N.Y.-based bank sued Deutsche Bank, swap issuer Gemstone CDO VI Ltd. and collateral manager HBK Investments LP, after $82 million of M&T's purportedly low-risk securities went south in 2008. M&T accused the group of misrepresenting the risk level of collateralized debt obligations M&T purchased from Deutsche Bank...
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