Deutsche Bank Can't Nix Class Action Over Traders' Spoofing

By Melissa Angell (September 21, 2021, 9:16 PM EDT) -- An Illinois federal judge ruled that Deutsche Bank can't yet ax a proposed class action seeking to hold it responsible for two former traders' alleged 2013 illegal spoofing schemes, finding that further information is needed to determine if trading firm Rock Capital Market and others behind the lawsuit have established standing.

In a 10-page Monday order denying Deutsche Bank's motion to dismiss, U.S. District Judge Joan B. Gottschall said that the bank, Rock Capital and others behind the consolidated class action must first address if the complaint alleges facts that are sufficient to support standing. If standing can't be established, the...

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