Deutsche Bank PFD

Settlement of In re Deutsche Bank AG Securities Litigation
No. 1:09-cv-01714-GHW-RWL

The parties have reached a settlement of this action, pending in the United States District Court for the Southern District of New York.  The settlement provides for the payment of $18,500,000 for the benefit of eligible Class Members.  Plaintiffs Norbert G. Kaess and Maria Farruggio alleged violations of §§11, 12(a)(2) and 15 of the Securities Act of 1933 by Deutsche Bank AG (“Deutsche Bank”) and certain individual defendants, underwriters, and the auditor relating to a Form F-3 Registration Statement and Prospectus filed with the Securities and Exchange Commission on October 10, 2006, and various prospectus supplements to that Registration Statement used to conduct the Offerings.

The Class consists of all persons or entities who purchased or otherwise acquired the 7.35% Noncumulative Trust Preferred Securities of Deutsche Bank Capital Funding Trust X, and/or the 7.60% Trust Preferred Securities of Deutsche Bank Contingent Capital Trust III, pursuant or traceable to the public offerings that commenced on or about November 6, 2007 and February 14, 2008.  Excluded from the Class are defendants, the officers and directors of Deutsche Bank and the underwriter defendants at all relevant times, members of their immediate families and their legal representatives, heirs, successors or assigns, and any entity in which defendants have or had a controlling interest.  Also excluded from the Class are Class Members that validly and timely exclude themselves from the Class.

The settlement was approved by the Court on June 11, 2020.

If you have any questions about the settlement or the litigation, please contact Rick Nelson at 1-800-449-4900.


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