Deutsche Bank to face $3.1 billion residential mortgage backed securities lawsuit

FRT Admin
Site administrator
February 22, 2016

deustche bankSince the 2008 financial crisis, residential mortgage-backed securities lawsuits continue to arise against top financial banks. In the most recently filed litigation, Deutsche Bank faces a $3.1 billion lawsuit for allegedly failing to monitor ten faulty residential mortgage-back securities. Similarly, Morgan Stanley recently settled a $63 million RMBS case over allegations for faulty investments. Wells Fargo recently paid close to $1.2 billion in settlement dollars for allegations since the financial crisis.

As we spoke about here, RMBS cases are more complex than traditional class actions. The main reason for this is due to the number of securities an RMBS case tends to hold. Unlike the majority of securities litigation, RMBS cases tend to hold hundreds or even thousands of securities. Another major reason is the difficulty in gathering and interpreting the appropriate data for the claim. Claim administrators have shown little consistency in the way historical transactions in RMBS need to be submitted to the claims administrator in order for a claim to be accepted.

About FRT

U.S. CLAIMS  I  GLOBAL GROUP LITIGATION  I  ANTITRUST  I  LITIGATION MONITORING  I  BUYOUTS

Founded in 2008, Financial Recovery Technologies (FRT) is the leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

ABOUT FINANCIAL RECOVERY TECHNOLOGIES
SETTLED  I  NON-US GLOBAL OPT-IN  I  ANTITRUST  I  GLOBAL PASSIVE  I  DIRECT OPT-OUT  I  BUYOUTS

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.