Deutsche Bank has agreed to settle a housing-investment dispute that involves, of local interest, the Massachusetts Bricklayers and Masons Trust Fund.
Basically, the plaintiffs accused Deutsche Bank of lying about the quality of mortgages stuffed into massive securities products. Can you believe it? A giant financial institution accused of lying to investors? Anyway, it looks like no one is admitting wrongdoing, as usual, but at least investors, including the Bricklayers, will get about $32.5 million from the settlement.
File under: Hitting a brick wall