Buxbaum v. Deutsche Bank, A.G.
In Buxbaum v. Deutsche Bank, A.G., 98 Civ. 8460 (JGK) (S.D.N.Y.). The action alleged that Deutsche Bank defrauded Bankers Trust shareholders by misrepresenting the status of takeover negotiations for Deutsche Bank to acquire Bankers Trust. The District Court’s opinion denying defendants’ motion to dismiss is reported at Fed. Sec. L. Rep. (CCH) ¶90,969 (S.D.N.Y. 2000). The decision denying defendants’ motion for summary judgment is reported at 2002 U.S. Dist. LEXIS 1893 (S.D.N.Y., Jan. 30, 2002). Wolf Popper’s settlement, obtained on the eve of trial, was equivalent to approximately 48% of the class’ maximum possible recovery, and approximately 96% of the class’ most likely recovery.