Deutsche Bank avoids HSBC's $330m mortgage-securities lawsuit

DB Structured Products Inc, a unit of Deutsche Bank, has managed to evade a $330m lawsuit in Los Angeles brought by trustee HSBC Bank USA over losses stemming from residential mortgage-backed securities, as Judge Marcy Friedman said trustee HSBC lacked standing as a plaintiff in a renewed action.

By Y. Peter Kang (March 30, 2016, 11:30 PM EDT) -- A New York state judge on Tuesday dismissed a suit targeting a Deutsche Bank AG unit over $330 million in losses stemming from toxic residential mortgage-backed securities, saying trustee HSBC lacked standing as a plaintiff in a renewed action....

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