Deutsche Bank Dropped From $7B MBS Class Action

Law360, Los Angeles (December 18, 2013, 8:25 PM EST) -- A New York federal judge on Wednesday dismissed Deutsche Securities Inc. from a class action against a host of issuers and underwriters over about $7 billion in mortgage-backed securities, finding a recent Second Circuit decision meant intervening plaintiffs could not join the suit.

U.S. District Judge Harold Baer Jr. had ruled in January that the intervening plaintiffs were not barred by the Securities Act of 1933’s statute of repose language even though they had filed more than three years after the securities were offered, relying on...
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