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

1:11-cv-04209

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Katherine B. Forrest

Date Filed

June 21, 2011

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