Deutsche Bank settles mortgage lawsuit with US shareholders

Deutsche Bank - External

Deutsche Bank has settled a U.S. lawsuit in which shareholders accused it of misrepresenting its ability to handle risks associated with mortgage debt prior to the 2008 financial crisis.

Reuters reports that the settlement in principle was disclosed in a filing on Thursday by Deutsche Bank's lawyers in the U.S. District Court in Manhattan.

Terms were not disclosed, and final paperwork is expected within 30 days, the filing said.

Shareholders accused Deutsche Bank of misleading them about its risk management and the underwriting on mortgage debt it packaged and sold, as well as being too slow to take write-downs.

To access the complete Reuters article hit the link below:

Deutsche Bank, U.S shareholders settle lawsuit over mortgages

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