Deutsche Bank Reaches Deal In MBS Case Tied To $1B Short

By Stewart Bishop (January 2, 2014, 5:54 PM EST) -- Deutsche Bank AG has settled a putative shareholder class action accusing the bank and former principals of touting risky mortgage-backed securities to investors even as top bank executives authorized a star trader to make a $1 billion bet against the notes, according to a Thursday filing in New York federal court.

In a letter to U.S. District Judge Katherine B. Forrest, Deutsche Bank said it has reached a settlement in principle with the investors, which it expects to be finalized within the next 30 days. Terms of the deal were not disclosed.

The settlement comes after Judge Forrest in late October refused...

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