Counsel Nabs $7.4M For $18.5M Deutsche Bank Deal

Law360 (June 12, 2020, 3:58 PM EDT) -- A New York federal judge has awarded investors' attorneys $7.4 million for striking an $18.5 million deal with Deutsche Bank to end a certified class action that alleged the bank misled investors about the risks of preferred securities offerings in the run-up to the 2008 financial crisis.

U.S. District Judge Gregory H. Woods on Thursday awarded lead counsel for the shareholder class at Robbins Geller Rudman & Dowd LLP and Glancy Prongay & Murray LLP $6.16 million in attorney fees and $1.2 million in expenses.

The 11-year-old consolidated case combined six proposed class actions and claimed Deutsche Bank and others involved...

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