On June 27, 2008, Massachusetts Bricklayers and Masons Trust Funds filed a complaint in Nassau County Supreme Court on behalf of purchasers of Mortgage Pass-Through Certificates of Deutsche Alt A Securities Inc., a special purpose corporation and a subsidiary of DB Structural Products, Inc. The Pass-Through Certificates were issued pursuant to Prospectus Supplements, and supported by pools of mortgage loans supported by liens. Claims are alleged under Sections 11, 12, and 15 of the Securities Act of 1933.

The complaint alleges that the Registration Statement contained false statements regarding underwriting standards, maximum loan to value ratios used to qualify borrowers, appraisals of properties, and debt-to-income ratios of loan applicants. By the fall of 2007, the truth about the mortgage loans that secured the Certificates began to be revealed to the public. As a result, the Certificates are no longer marketable at prices anywhere near the price paid by investors, and the holders of the Certificates are exposed to much more risk with respect to both the timing and absolute cash flow to be received than the Registration Statement/Prospectus Supplements represented. The case, originally filed in New York state court, has been removed by the Defendants to the federal district in the Eastern District of New York.

By an order dated January 8, 2009 the Court denied Plaintiffs' motion to remand the case back to state court. On May 18, 2009 Massachusetts Bricklayers was named Co-Lead Plaintiff (along with Masons Trust Funds and the Pipefitters Retirement Fund Local 597). Labaton Sucharow was appointed Co-Lead Counsel. On June 19, 2009 Plaintiffs filed an amended complaint. Defendants then filed motions to dismiss the amended complaint.

By order dated April 6, 2009 the Court dismissed all claims made with respect to any offering in which Lead Plaintiffs had not purchased securities on standing grounds. With respect to the remaining certificates the Court ordered Plaintiffs to file an amended pleading detailing how the statements and omissions are tied to the loans underlying the certificates and the bases for Plaintiffs' damages claims. Consistent with the Court's directive, Plaintiffs file a Second Amended Complaint ("SAC") on May 24, 2010. Defendants again filed motions to dismiss and Plaintiffs opposed the motions. On December 23, 2010 the Court denied Defendants' motions to dismiss the SAC.  

On July 11, 2011 Plaintiffs filed a motion to certify the action as a class action. The parties are currently engaged in merits discovery.