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Deutsche Alt-A Securities
Settlement of Massachusetts Bricklayers and Masons Trust Funds v. Deutsche Alt-A Securities, Inc. Litigation
The parties have reached a settlement of this action, pending in the United States District Court for the Eastern District of New York. The settlement provides for the payment of $32,500,000 for the benefit of eligible Settlement Class Members. Lead Plaintiffs alleged that Defendants violated the federal securities laws by, among other things, making material misstatements and omissions regarding the risks associated with mortgage pass-through certificates the Defendants offered for sale. The Settlement Class consists of all persons who purchased or otherwise acquired Deutsche Alt-B Securities Mortgage Loan Trust 2006-AB4 Mortgage Pass-Through Certificates and/or Deutsche Alt-A Securities Mortgage Loan Trust 2006-AR5 Mortgage Pass-Through Certificates during the period May 1, 2006 through May 30, 2007 and were damaged thereby.
The settlement was preliminarily approved by the Court on March 29, 2012. The Court has scheduled a final approval hearing for July 11, 2012 at 11:00 a.m.
If you are a Settlement Class Member, to receive a payment from the settlement proceeds, you must submit a claim postmarked no later than August 10, 2012. The claim form can be obtained by clicking on the Proof of Claim and Release link below. If you have any questions about the settlement or the litigation, please contact Rick Nelson at 1-800-449-4900.