Deutsche Bank Settles RMBS Claims for $32.5 Million

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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.

Published In: Business Torts Updates, Civil Remedies Updates, Finance & Banking Updates, Residential Real Estate Updates, Securities Updates

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