Deutsche Bank Can't Shake Suit Over $1B MBS Short

Law360, New York (March 27, 2013, 7:11 PM EDT) -- A New York federal judge on Wednesday rejected Deutsche Bank AG’s effort to dismiss a shareholder class action alleging it touted risky mortgage-backed securities to investors even as top bank executives authorized a star trader to make a $1 billion bet against the notes.

“Plaintiffs have certainly set forth sufficient plausible allegations to support a claim for a fraudulent scheme against Deutsche Bank,” U.S. District Judge Katherine B. Forrest said in her order. “The scheme is laid out with specificity.”

The ruling denied the bank’s July...
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Case Information

Case Title

IBEW Local 90 Pension Fund v. Deutsche Bank AG et al

Case Number



New York Southern

Nature of Suit



Katherine B. Forrest

Date Filed

June 21, 2011

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