Investor RMBS Claims Against Deutsche Bank Escape The Ax
By Rick Archer (January 24, 2017, 6:43 PM EST) -- A New York federal judge Monday preserved most of a suit claiming Deutsche Bank National Trust Co. failed to protect investors from over $1 trillion in losses due to poorly underwritten residential mortgage-backed securities, dismissing only the claims the bank had a conflict of interest.
In a text order, U.S. District Court Judge Jesse M. Furman dismissed the conflict of interest claims brought by BlackRock Capital Portfolio and other investors but refused to dismiss their representations-and-warranties claims, servicer-notification claims, event-of-default claims and Trust Indenture Act claims.
"The court, at this time, reserves judgment with respect to dismissal of plaintiffs' representations-and-warranties claims...
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