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Deutsche Bank Wins Dismissal of Securities Fraud Claims

Sept. 30, 2019, 8:38 PM

Deutsche Bank AG convinced a New York federal court to dismiss a proposed securities fraud class action stemming from statements it made to investors about financial reporting.

The proposed class failed to show that the bank made a misleading statement, the U.S. District Court for the Southern District of New York said Sept. 30.

The complaint alleged that the bank’s statements to the U.S. Securities and Exchange Commission in 2016 and 2017 that its “internal control over financial reporting” was effective based on the framework established by the Committee of Sponsoring Organizations of the Treadway Commission, were misleading.

The purpose...

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