Deutsche Bank Will Pay $32.5 Million To Investors in Soured Alt A MBS
March 30, 2012
Deutsche Bank AG has settled a class action suit with disgruntled MBS investors for $32.5 million, after plaintiffs argued that they received false and misleading information regarding their investment. The securities were pass-through Alt A MBS issued by Deutsche between May 2006 and May 2007, which were subsequently downgraded and are no longer marketable at prices anywhere near the price paid by plaintiffs and the class, said an amended complaint. The class action, filed in 2008 by unions Massachusetts Bricklayers and Masons Trust Funds, the Pipefitters Retirement Fund Local 597...