Deutsche Bank loses motion to dismiss last look claims

Last look-related legal action against other banks could accelerate

Deutsche Bank: denied its motion to dismiss on the main points

Deutsche Bank's attempt to dismiss a lawsuit brought by Axiom Investment Advisors, alleging the bank misused last look for its own benefit, has been thrown out of court in a ruling that could open the gates for a class action lawsuit in the US in relation to the practice.

While claims have been brought against two of the biggest foreign exchange trading banks in connection with their last look practices, the intention to file complaints against other banks has probably been held up by the ruling