Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Deutsche Bank Sued Over $173 Million in Mortgage Bonds

Deutsche Bank Sued Over $173 Million in Mortgage Bonds
A pedestrian uses a mobile phone as he passes the offices of Deutsche Bank AG in London, U.K. Photographer: Simon Dawson/Bloomberg

Deutsche Bank AG was sued in New York by Landesbank Baden-Wuerttemberg, which accuses the German bank of fraud in the sale of $173 million in mortgage-backed securities in 2007.

Deutsche Bank engaged in “egregious fraud,” selling securities that were riskier than promised and leading to losses, LBBW said in a complaint filed today in New York State Supreme Court.

LBBW, Germany’s biggest state-owned lender, said Deutsche Bank’s misconduct resulted in “astounding” rates of default on loans underlying the securities.

“We believe this suit is without merit and we intend to defend ourselves,” Amanda Williams, a spokeswoman for Frankfurt-based Deutsche Bank, said in an e-mail.

The case is Landesbank Baden-Wuerttemberg v. Deutsche Bank AG, 654543-2012, New York State Supreme Court (Manhattan).

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.