Settled: July 11, 2012
On July 11, 2012, the Honorable Leonard D. Wexler of the United States District Court for the Eastern District of New York granted final approval to a settlement in the amount of $32.5 million in cash, plus interest, in the class action Massachusetts Bricklayers and Masons Trust Funds v. Deutsche Alt-A Securities, Inc., et al., Civil Action No.2:08-cv-03178-LDW-ARL.
Labaton Sucharow and Robbins Geller Rudman & Dowd LLP are the Court-appointed lead counsel for lead plaintiffs Massachusetts Bricklayers and Masons Trust Funds, the Pipefitters' Retirement Fund Local 597 and the settlement class.
This settlement resolves claims against Deutsche Alt-A Securities, Inc., Deutsche Bank Securities Inc., DB Structured Products, Inc., Anilesh Ahuja, Jeffrey Lehocky, Richard W. Ferguson, Joseph J. Rice, Richard D'Albert and Kevin Burns (collectively, "Defendants").
Lead plaintiffs, on behalf of the settlement class, allege that defendants made false statements and omitted material information in a Registration Statement and two Prospectus Supplements pursuant to which certain Mortgage Pass-Through Certificates were offered to investors, in violation of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933.
If you purchased or otherwise acquired Certificates in the Deutsche Alt-A Securities Mortgage Loan Trust 2006-AR5 and Deutsche Alt-B Securities Mortgage Loan Trust 2006-AB4 between May 1, 2006 through May 30, 2007, inclusive, and were allegedly damaged thereby, you may be eligible to recover if you submit a Proof of Claim and Release form with supporting documents by August 10, 2012.
The deadline for objecting to the settlement or for seeking exclusion from the class has passed. A settlement fairness hearing was held on July 11, 2012 before Judge Wexler at the United States District Court for the Eastern District of New York, Long Island Federal Courthouse, 944 Federal Plaza, Central Islip, New York 11722.
Copies of relevant settlement documents can be accessed by clicking on the links to the right.