Deutsche Asks For Early Win In Preferred Securities Suit

Law360 (August 1, 2019, 3:57 PM EDT) -- Deutsche Bank and several big banks acting as its underwriters have urged a New York federal judge to grant them an early exit from a shareholder suit accusing the banks of misleading investors in offerings of preferred securities during the implosion of the U.S. housing bubble.

Deutsche, along with underwriters including Banc of America Securities LLC, Citigroup and Merrill Lynch, asked the judge to grant them summary judgment Wednesday, arguing that the shareholders cannot prove the price of the securities dipped due to Deutsche's failure to disclose the extent of its exposure to the whims of the housing market.

"The relevant facts...

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