Deutsche Bank AG is nearing a settlement deal with U.S. authorities on an investigation into the sale of residential mortgage-backed securities, causing the bank’s shares to jump the most in two month, an article in Bloomberg by Jan-Henrik Foerster reported.
Note: The information came from a German Magazine that chose not to reveal its source.
From the Bloomberg article:
Settling the U.S. case would clear a major legal hurdle for Germany’s biggest lender, which has already paid more than $9 billion in fines and settlements worldwide since the start of 2008, according to data compiled by Bloomberg. Chief Executive Officer John Cryan has pledged to resolve the largest of the firm’s outstanding cases this year.