Even as 10 other investment banks finalized a $1.4-billion legal settlement with regulators this week, a potential deal with Deutsche Bank over stock-analyst conflicts still could be weeks away, California officials said.
A settlement with Deutsche has been held up by the firm’s failure to turn over all the e-mail files requested by state investigators. Deutsche, which blamed a computer foul-up, has given California 366 of the 556 e-mail files it has requested.
“We still have a lot more e-mails to look at,” said Demetrios A. Boutris, head of the California Department of Corporations. “It would be irresponsible of a regulator to settle without knowing what is contained in the e-mails.”
-- Walter Hamilton