Barclays Accused Of Misleading Clients On $808M In MBS

Law360, New York (June 4, 2012, 7:18 PM EDT) -- Barclays Bank PLC, Barclays Capital PLC and its subsidiaries were hit with two separate lawsuits on Monday from financial clients alleging they were misled about residential mortgage-backed securities worth a combined $808 million.

Sealink Funding Ltd. says Barclays failed to mention credit problems in the home loans underlying $604 million in asset bonds. Germany’s Landesbank Baden-Wurttemberg targets the British investment bank for $204 million in MBS.

The complaints, filed in New York state court, join the dozens of cases targeting Barclays and other Wall Street firms...
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