In the legal dispute over alleged manipulation of the bond market, Deutsche Bank has entered into a multi-million dollar settlement. The group accepts a $ 15 million payment. This is clear from court documents.
Investors had accused the bank of year-long pricing collateral on mortgage securities issued by US real estate financiers Fannie Mae and Freddie Mac.
Comparison still needs to be approved
The lawsuit was also directed against a number of other major financial institutions. Deutsche Bank is the first institute to make a comparison. "We are glad to have solved the matter," said a company spokesman in New York.
Deutsche Bank does not take any culpable action with the compromise, but had to commit to improving its internal controls. The settlement agreed with the plaintiffs must be finally approved by the competent federal court in Manhattan.