UPDATE 2-Deutsche Bank is first to settle bond-rigging lawsuit, amid federal probe [Reuters]
Barclays PLC (BCS)
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Source: Reuters
Deutsche Bank is first to settle Fannie Mae, Freddie Mac bond-rigging lawsuit - Reuters 3 Min Read NEW YORK (Reuters) - Deutsche Bank AG ( DBKGn.DE ) will pay $15 million to resolve claims it conspired to rig prices of bonds issued by Fannie Mae ( FNMA.PK ) and Freddie Mac ( FMCC.PK ), becoming the first of 16 financial services companies to settle litigation by investors. The German bank also agreed to bolster internal oversight to detect anticompetitive conduct under the settlement, which requires court approval and was made public late Wednesday. Deutsche Bank did not admit wrongdoing. Investors like Pennsylvania Treasurer Joe Torsella accused the defendants, including several of the world’s largest banks, of exploiting their market dominance to overcharge investors from Jan. 1, 2009 to Jan. 1, 2016, to secure more profit. Lawyers for the investors called Deutsche Bank’s settlement, which includes the bank’s cooperation, an “ice-breaker” that could bring other defendants to t
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BCS
Sec Filings
- 5/10/24 - Form 6-K
- 5/10/24 - Form 424B2
- 5/9/24 - Form 6-K
- BCS's page on the SEC website