Deutsche Bank Settles RMBS Claims for $32.5 Million


On March 26, 2012, lead plaintiffs in a putative RMBS class-action lawsuit against affiliates of Deutsche Bank AG sought approval of a $32.5 million settlement. The action arose out of alleged misrepresentations Deutsche Bank made concerning the quality of RMBS it sold. The settlement amount equates to an estimated average recovery of $12.80 per $1,000 in original face value of the RMBS certificates at issue. The settlement will not become final until it is approved by the Eastern District of New York.  Approval Motion.

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