6/16/2015

U.S. Supreme Court Revives Deutsche Bank Class Action Lawsuit

The U.S. Supreme Court revived a $22.5 billion class action against Deutsche Bank AG on Monday after statements had been made about its exposure to risky mortgage-backed securities and after finding that the original claim should've been reviewed in light of the Court’s recent Omnicare ruling.

In a unanimous ruling in March, the Supreme Court held that Omnicare Inc. was not liable for statements of opinion made by their executives, which turned out to be false.

In this case, the plaintiff Belmont Holdings Corp. argued that its claims were nearly identical to the plaintiff in Omnicare. The Supreme Court granted Belmont’s petition for a writ of certiorari, but vacated a lower court’s decision to dismiss the claim, remanding the case back to the 2nd Circuit for further consideration.

Order Shows How Ruling Affects Securities Litigation

This order is just the latest sign of how the Omnicare ruling is starting to shake up securities litigation, with Ernst & Young recently settling over allegations that over $21 million was lost because of an alleged active concealment of Lehman Brothers’ subprime exposure risk.

Investment Misrepresentation and How it Affects You

The attorneys at Dimond Kaplan & Rothstein, P.A. represent investors who have been defrauded in front of the SEC and all levels of state and federal court. If you have made investments based on knowingly false statements with Deutsche Bank or anyone else, you may have certain legal rights that require your immediate attention.

Call a Securities Fraud Attorney Today

Contact us to schedule an appointment or consultation today to review your rights and options.

Share This Story

Share your experience with investment fraud, and contribute to a community dedicated to protection and empowerment. Together, we can unveil strategies, share insights, and build a shield against financial deceit.

Let’s Discuss Your Case Today

When fighting for your rights, you may go up against some dangerous enemies. You want an attorney flying by your side to help navigate you through the twists and turns of the legal system. 

I Want To...
No Recovery, No Fees (888) 578-6255

Subscribe to our email!

Locations
Subscribe to our email!

Subscribe to our email!

uploadmagnifiercross linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram