Deutsche Bank To Pay $33M To End Union Funds' RMBS Suit

Law360, New York (March 26, 2012, 9:44 PM EDT) -- Deutsche Bank AG affiliates have agreed to pay $32.5 million to settle a putative class action brought by two union retirement funds over losses from allegedly misrepresented mortgage-backed securities, the plaintiffs told a New York federal court Monday.

The settlement, which still needs court approval, would resolve a suit first brought in 2008 by the Massachusetts Bricklayers and Masons Trust Funds on behalf of buyers of the securities.

The investors would receive an estimated average of $12.80 per $1,000 in initial certificate value — what the...
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