Robbins Geller Rudman & Dowd LLP Announce Proposed Settlement in the Deutsche Bank Securities Settlement

NEW YORK--()--The following statement is being issued by Robbins Geller Rudman & Dowd LLP regarding the Deutsche Bank Securities Settlement:

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

 

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In re DEUTSCHE BANK AG SECURITIES
LITIGATION

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Master File No. 1:09-cv-01714-DAB-RWL


CLASS ACTION

 

 

This Document Relates To:

ALL ACTIONS.

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SUMMARY NOTICE

TO:

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 (THE “CLASS OFFERINGS”)

YOU ARE HEREBY NOTIFIED that pursuant to an Order of the United States District Court for the Southern District of New York, a hearing will be held on June 11, 2020, at 4:30 p.m. ET, before the Honorable Deborah A. Batts at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, for the purpose of determining: (1) whether the proposed Settlement of the Litigation for the sum of $18,500,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice against Deutsche Bank AG, the DB Defendants1 and the Underwriter Defendants2 (together, the “Defendants”) as set forth in the Stipulation of Settlement dated November 11, 2019; (3) whether the Plan of Allocation is fair, reasonable and adequate and therefore should be approved; and (4) the reasonableness of the application of Lead Counsel for the payment of attorneys’ fees and expenses incurred in connection with this Litigation, together with interest thereon (which request may include an amount for Class Plaintiffs pursuant to 15 U.S.C. §77z-1(a)(4) in connection with their representation of the Class). The Court may adjourn or continue the Settlement Hearing without further notice to the Class.

IF YOU PURCHASED OR OTHERWISE ACQUIRED SECURITIES IN THE CLASS OFFERINGS, YOUR RIGHTS MAY BE AFFECTED BY THIS LITIGATION AND THE SETTLEMENT THEREOF. If you have not received a detailed Notice of Pendency and Proposed Settlement of Class Action (“Notice”) and a copy of the Proof of Claim and Release form, you may obtain copies by writing to Deutsche Bank Securities Settlement, Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 43320, Providence, RI 02940-3320, or by downloading this information at www.DeutscheBankSecuritiesSettlement.com. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release online at www.DeutscheBankSecuritiesSettlement.com by June 10, 2020, or by mail postmarked no later than June 10, 2020, establishing that you are entitled to a recovery. You will be bound by any judgment rendered in the Litigation unless you request to be excluded, in writing, postmarked by May 21, 2020.

If you purchased or otherwise acquired securities in the Class Offerings and you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than May 21, 2020, in the manner and form explained in the detailed Notice referred to above. All Members of the Class who do not validly request exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the Stipulation of Settlement.

Any objection to any aspect of the Settlement must be filed with the Clerk of the Court and also delivered by hand or first-class mail to each of the following addresses such that it is received no later than May 21, 2020:

Court:

 

CLERK OF THE COURT
United States District Court
Southern District of New York
Daniel Patrick Moynihan United States
Courthouse
500 Pearl Street
New York, NY 10007

Lead Counsel:

 

ROBBINS GELLER RUDMAN
& DOWD LLP
THEODORE J. PINTAR
655 West Broadway, Suite 1900
San Diego, CA 92101

 

Deutsche Bank’s counsel:

 

CAHILL GORDON & REINDEL
LLP
DAVID G. JANUSZEWSKI
80 Pine Street
New York, NY 10005

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

DATED: February 27, 2020

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

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1 “DB Defendants” means Deutsche Bank Contingent Capital LLC II, Deutsche Bank Contingent Capital Trust II, Deutsche Bank Capital Funding Trust IX, Deutsche Bank Capital Funding LLC IX, Deutsche Bank Capital Funding LLC X, Deutsche Bank Capital Funding Trust X, Deutsche Bank Contingent Capital LLC III, Deutsche Bank Contingent Capital Trust III, Deutsche Bank Contingent Capital LLC V, Deutsche Bank Contingent Capital Trust V, Deutsche Bank Capital Funding LLC VIII, Deutsche Bank Capital Funding Trust VIII, Josef Ackermann, Jonathan Blake, Hugo Banziger, Anthony Di Iorio, Martin Edelmann, Hermann-Josef Lamberti, Rainer Rauleder, Peter Sturzinger, and Marco Zimmermann.

2 “Underwriter Defendants” means UBS Securities LLC, Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, individually and as successor by merger to defendant Banc of America Securities LLC, Wachovia Capital Markets, LLC (n/k/a Wells Fargo Securities, LLC), Morgan Stanley & Co., and Deutsche Bank Securities Inc.

Contacts

Media Contact:
Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1- 619-231-1058

Contacts

Media Contact:
Robbins Geller Rudman & Dowd LLP
Shareholder Relations
Rick Nelson
1- 619-231-1058