Deutsche Bank’s Dismissal of securities fraud claims

A Cahill litigation team prevailed on behalf of Deutsche Bank AG and certain current and former executives of Deutsche Bank in the United States Court of Appeals for the Second Circuit, obtaining an affirmance of the dismissal of securities fraud claims brought by a purported class of shareholders.

The shareholders alleged that Deutsche Bank made misstatements regarding the effectiveness of its internal controls.  The Court of Appeals affirmed the district court’s dismissal of all claims, finding that plaintiffs failed to adequately allege scienter by Deutsche Bank or the individual defendants.

Deutsche Bank AG is a global financial service provider delivering commercial, investment, private, and retail banking. The bank, led by Christian Sewing, Garth Ritchie and Karl Von Rohr, in 2017 recorded €41.5 Billion Revenues.

Cahill advised Deutsche Bank AG with a team including Charles A. Gilman (Picture), David G. Januszewski, Tara H. Curtin, Kyrie Graziosi, Caroline Incledon, John Schoolman and Bonnie Trunley.

 

 

Involved fees earner: Charles Gilman – Cahill Gordon & Reindel; David Januszewski – Cahill Gordon & Reindel; Tara Curtin – Cahill Gordon & Reindel; Kyrie Graziosi – Cahill Gordon & Reindel; Caroline Incledon – Cahill Gordon & Reindel; John Schoolman – Cahill Gordon & Reindel; Bonnie Trunley – Cahill Gordon & Reindel;

Law Firms: Cahill Gordon & Reindel;

Clients: Deutsche Bank;

 

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Author: Ambrogio Visconti