Media Contact:
Julie Cohen
Director of Marketing and Communications
Phone: 212.701.3614
Fax:
jcohen@cahill.com

Firm News

Cahill Wins Dismissal for Deutsche Bank in Illinois Federal Court

Date: 07/15/20

A Cahill litigation team prevailed on behalf of Deutsche Bank Trust Company Americas, securing a dismissal in the United States District Court for the Northern District of Illinois for a suit brought by Plaintiffs Insight Securities, Inc. and Intelligenics, Inc. In March 2020, Plaintiffs filed their complaint against Deutsche Bank, asserting claims for negligence, conversion, and contribution in connection with the transfer of securities alleged to have been funneled among various entities as part of a third-party’s long-running Ponzi scheme.

Plaintiffs themselves face various claims in arbitration arising from Insight’s failure to prevent the transfers and in turn sought relief from Deutsche Bank in the form of contribution or indemnification.  Deutsche Bank moved to dismiss on the basis that the Illinois Court lacked jurisdiction over it and on the merits. On July 15, 2020, the District Court Judge Jorge L. Alonso granted Deutsche Bank’s motion to dismiss the complaint on the basis of personal jurisdiction. In doing so, the Court explained that Plaintiffs’ failure to connect their suit to the forum also justified denying their request for jurisdictional discovery. 

Media Contact:
Julie Cohen
Director of Marketing and Communications
Phone: 212.701.3614
Fax:
jcohen@cahill.com