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Deutsche Bank AG (USA) Investor Securities Class Action Lawsuit 06/21/2011

  • If you purchased shares of Deutsche Bank AG (USA) (NYSE: DB), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Deutsche Bank
Security
NYSE: DB

Case Name
Deutsche Bank Shareholder Class Action Lawsuit 06/21/2011
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

January 6, 2014 - Parties reached a settlement in principle and the court ordered that the action be discontinued without costs to any party and without prejudice.
March 27, 2013 - The court in part denied and in part granted the defendants’ motion to dismiss.

July 23, 2012 - Defendants filed a motion to dismiss.

June 1, 2012 - The lead plaintiffs filed an amended consolidated complaint.

December 5, 2011 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

August 22, 2011 - Lead plaintiff motions were filed.

June 21, 2011 - An investor in shares of Deutsche Bank AG (USA) (NYSE: DB) filed a lawsuit in the U.S. District Court for the Southern District of New York against Deutsche Bank AG over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between January 3, 2007 and January 16, 2009.

According to the complaint the plaintiff alleges on behalf of purchasers of Deutsche Bank AG (NYSE: DB) ordinary shares during the period between January 3, 2007 and January 16, 2009, that Deutsche Bank AG and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between January 3, 2007 and January 16, 2009 materially false and misleading statements regarding Deutsche Bank’s business and financial results and concealed its failure to write down impaired securities containing mortgage-related debt.

As a result of defendants’ false statements, so the plaintiff, Deutsche Bank AG (NYSE: DB) shares traded at artificially inflated prices between Jan. 3, 2007 and Jan. 16, 2009, reaching a high of $159.59 per share in May 2007. The plaintiff claims that later, Deutsche Bank AG’s shares (NYSE: DB) declined as it reported billions of dollars in losses, many of which were directly or indirectly related to mortgage-backed securities. Recently, the U.S. Department of Justice sued Deutsche Bank AG for alleged misrepresentations about its mortgage loans.

On January 16, 2009, after Deutsche Bank AG issued an update on its fourth quarter 2008 performance, Fitch Ratings placed Deutsche Bank’s AA- rating on Rating Watch Negative.

Deutsche Bank AG (NYSE: DB) shares fell to close at $21.27 per share on January 20, 2009 (the next trading day).