Deutsche Bank's $15M Deal Is 1st In Bond Price-Fixing Suit
By Jon Hill (September 12, 2019, 6:35 PM EDT) -- Investors alleging major banks conspired to fix prices for bonds issued by Fannie Mae and other government-sponsored enterprises told a New York federal court on Wednesday that they have their first settlement, unveiling a $15 million deal with Deutsche Bank that includes compliance and cooperation provisions.
The proposed settlement includes no admission of wrongdoing from Deutsche Bank but calls for it to pay $15 million into a settlement fund and adhere to certain antitrust compliance measures for two years.
The bank has also agreed to provide transaction data, employee interviews and other cooperation as the investors press forward with their antitrust...
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