M&T Bank Corp Settles CDO Suit Against Deutsche Bank for $55 Million

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In a January 17, 2012 press release and 8-K reporting its financial results for the fourth quarter, M&T Bank Corp announced the settlement of a 2008 lawsuit against Deutsche Bank Securities and other entities. The suit, filed in the Supreme Court for the State of New York, alleged that Deutsche Bank made misrepresentations when marketing an $82 million investment of the Gemstone CDO VII, underpinned by subprime home loans. M&T Bank Corp reports that it received $55 million from the settlement. Current Report.

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