Tuesday, July 26, 2016
Deutsche Bank must face U.S. lawsuit over subprime disclosures
NEW YORK (Reuters) - A U.S. judge on Monday said Deutsche Bank AG must face part of a lawsuit claiming it defrauded investors who bought $5.4 billion of preferred securities by concealing its exposure to the fast-deteriorating subprime mortgage market.
U.S. District Judge Deborah Batts in Manhattan said the plaintiffs may pursue claims with respect to offerings in November 2007 and February 2008, but not with respect to offerings in May 2007, July 2007 and May 2008.
(Reporting by Jonathan Stempel in New York; Editing by Jonathan Oatis)