Deutsche Bank Dodges 2 Suits Alleging $1.3B MBS Fraud

Law360, New York (February 8, 2012, 12:45 PM EST) -- A New York federal judge on Monday threw out a pair of related complaints alleging Deutsche Bank AG sold $1.3 billion in toxic residential mortgage-backed securities while betting the underlying loans would fail.

U.S. District Judge Jed S. Rakoff granted Deutsche Bank’s motion to dismiss the lawsuits filed by Brussels-based lender Dexia SA and pension manager Teachers Insurance & Annuity Association. The plaintiffs alleged Deutsche Bank executives touted investments in its RMBS, made of pooled subprime mortgages, even as it secretly called the securities “pigs” and...
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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

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