Deutsche Bank Faces U.S. Mortgage Securities Suit: REUTERS

Categorized | conspiracy, foreclosure fraud

Deutsche Bank Faces U.S. Mortgage Securities Suit: REUTERS

Deutsche Bank Faces U.S. Mortgage Securities Suit: REUTERS

Deutsche Bank Faces U.S. Mortgage Securities Suit

Deutsche Bank (DBKGn.DE) faces a U.S. class-action lawsuit over mortgage-related securities it helped arrange, Germany’s biggest lender said in its first-quarter report.

April 27, 2010

FRANKFURT (Reuters) – Deutsche Bank faces a U.S. class-action lawsuit over mortgage-related securities it helped arrange, Germany’s biggest lender said in its first-quarter report.

But it tried to distance itself from a whirlwind sweeping Wall Street rival Goldman Sachs by revealing it had not been informed by the U.S. Securities and Exchange Commission (SEC) of any imminent charges.

It said the Federal Home Loan Bank of San Francisco had filed suit regarding the role a number of financial institutions, including Deutsche Bank affiliates, had played as issuer and underwriter of certain mortgage pass-through certificates purchased by the San Francisco-based bank.

“In addition, certain affiliates of Deutsche Bank, including DBSI, have been named in a putative class action pending in the United States District Court for the Eastern District of New York regarding their roles as issuer and underwriter of certain mortgage pass-through securities,” it said.

“On April 5, 2010, the Court granted in part and denied in part Deutsche Bank’s motion to dismiss this complaint. Each of the civil litigations is otherwise in its early stages.”

Continue reading…. REUTERS

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8683 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives