Judge Grants Deutsche's Nix Bid In Russian Trade Row
By Jack Newsham (June 28, 2017, 6:25 PM EDT) -- A New York federal judge dismissed a potential investor class action against Deutsche Bank AG on Wednesday over its failure to halt and disclose suspicious trades by potential Russian money launderers, saying the plaintiffs failed to show how the bank lied or misled them.
Germany's biggest bank has paid hundreds of millions of dollars to regulators in New York and the U.K. for its control failures that allowed clients in Russian and potential co-conspirators abroad to line up "mirror trades" that appeared to have no economic purpose. Investors argued that Deutsche's failure to stop the scheme while talking tough about compliance...
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