Lawsuit Overview
October 23, 2014 - The U.S. Court of Appeals for the Second Circuit affirmed the judgement of the U.S. District Court.
June 13, 2013 - The lead plaintiffs filed a notice of appeal.
August 10, 2012 - The court granted defendants' motion for reconsideration with prejudice.
September 19, 2011 - The lead plaintiffs filed a second amended consolidated complaint.
August 31, 2011 - The defendants' filed a motion for reconsideration.
August 19, 2011 - The court granted defendants' motions to dismiss in part with prejudice and in part without prejudice with leave to amend.
March 26, 2010 - Defendants filed motions to dismiss.
January 25, 2010 - The lead plaintiffs filed an amended consolidated complaint.
November 23, 2009 - An additional lead plaintiff and lead counsel were appointed.
August 11, 2009 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.
April 28, 2009 - Another lead plaintiff motion was filed.
April 27, 2009 - Lead plaintiff motion was filed.
February 24, 2009 - An investor in the 6.375% Noncumulative Trust Preferred Securities of Deutsche Bank Capital Funding Trust VIII (NYSE: DUA) and/or the 7.35% Noncumulative Trust Preferred Securities of Deutsche Bank Capital Funding Trust X (NYSE: DCE) filed a lawsuit in the U.S. District Court for the Southern District of New York on behalf of persons who acquired the 6.375% Noncumulative Trust Preferred Securities of Deutsche Bank Capital Funding Trust VIII (NYSE:DUA) and/or the 7.35% Noncumulative Trust Preferred Securities of Deutsche Bank Capital Funding Trust X (NYSE:DCE) pursuant or traceable to materially false and misleading registration statements and prospectuses (issued in connection with the October 2006 and November 2007 offerings, respectively, of the Securities DUA and DCE) against Deutsche Bank AG, certain of its subsidiaries, its senior insiders and the investment banks that underwrote the Offerings.
According to the complaint the plaintiff alleges that Deutsche Bank AG, certain of its subsidiaries, its senior insiders and the investment banks that underwrote the Offerings violated the Securities Act of 1933. The complaint alleges that in October of 2006, Deutsche Bank AG consummated the offering of the 6.375% Securities pursuant to a false and misleading registration statement, selling 24 million 6.375% Securities at $25 per share for proceeds of approximately $600 million. Then, in November 2007, Deutsche Bank AG consummated the offering of the 7.35% Securities pursuant to a false and misleading registration statement, selling 32.2 million 7.35% Securities at $25 per share for proceeds of approximately $805 million. After the Offerings, on January 14, 2009, Deutsche Bank AG issued a press release announcing disappointing fourth quarter 2008 financial results, including a loss after taxes of 4.8 billion for the fourth quarter of 2008, reflecting market conditions that severely impacted results in the sales and trading businesses, most notably in Credit Trading including its proprietary trading business, Equity Derivatives and Equities Proprietary Trading. As a result of this disclosure, the prices of the Securities fell dramatically and the Registration Statements issued in connection with the Offerings were false and misleading, so the lawsuit.