Deutsche Bank Sued Over Auction Rate Securities

Law360, New York (March 18, 2008, 12:00 AM EDT) -- The current panic in the capital markets has resulted in a lawsuit for another Wall Street firm.

Investment bank Deutsche Bank AG has been hit with a lawsuit alleging that the bank misled investors about auction rate securities.

In a suit filed on Monday in the U.S. District Court for the Southern District of New York, investors claimed that Deutsche Bank touted the auction rate securities as “highly liquid, safe investments for short-term investing,” and told potential purchasers that the securities were suitable for any investor...
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