Panel Affirms Dismissal Of Securities Suit Against Deutsche Bank

Mealey's (April 16, 2018, 2:43 PM EDT) -- NEW YORK — Shareholders in a securities class action lawsuit against Deutsche Bank Aktiengesellschaft (DBA) and others failed to show that the defendants acted with the requisite scienter in allegedly concealing numerous financial reporting issues and failing to disclose issues with the company’s compliance and anti-money laundering controls in its Russian and United Kingdom offices in making their federal securities law claims, a Second Circuit U.S. Court of Appeals panel ruled April 13 in affirming a federal district court’s dismissal of the action (Andrei Sfiraiala, et al. v. Deutsche Bank Aktiengesellschaft, et al., No. 17-2560, 2nd Cir., 2018 U.S. App. LEXIS 9211)....