Two mortgage lawsuits vs Deutsche Bank dismissed

(Reuters) - Deutsche Bank AG (DBKGn.DE) on Tuesday won the dismissal of two lawsuits accusing it of misleading investors about the quality of risky residential mortgage-backed securities they bought.

U.S. District Judge Jed Rakoff in Manhattan wrote that "despite their prolixity," the complaints filed last summer by European financial group Dexia SA (DEXI.BR) and the Teachers Insurance and Annuity Association of America failed to describe with sufficient "particularity" the German bank's alleged fraud.

Rakoff said he will spell out his reasoning in a written opinion. He said Dexia and TIAA will then have 30 days to bring new cases relying on loans sponsored by Deutsche Bank Structured Products, but cannot replead the parts of their cases relying on other loans.

A lawyer for Dexia and TIAA declined to comment.

Both lawsuits drew on evidence gathered by the U.S. Congress last year that described bank employees disparaging internally the same mortgage debt that their employer was selling.

The lawsuits were originally filed in a New York state court ID:nN1E76D0MW][ID:nN1E7710GG], and later moved to federal court. Dexia's complaint was more than 160 pages long, and TIAA's complaint was more than 130 pages long, court records show.

The cases are Dexia SA/NV et al v. Deutsche Bank AG et al, U.S. District Court, Southern District of New York, No. 11-05672; and Teachers Insurance and Annuity Association of America v. Deutsche Bank AG in the same court, No. 11-06141.

(Reporting By Jonathan Stempel; Editing by Richard Chang)