BayernLB Hits Barclays With New $274M MBS Suit

Law360, New York (August 3, 2012, 7:49 PM EDT) -- One of Germany's largest banks filed a lawsuit in New York court Friday alleging Barclays PLC made false statements in the sale of more than $274 million in residential mortgage-backed securities issued toward the end of the housing bubble.

In a summons filed in New York State Supreme Court in Manhattan, Bayerische Landesbank alleged that Barclays provided misleading statements about the quality of mortgages packaged into a series of 10 mortgage-backed securities in 2006 and 2007 for which the scandal-plagued British bank served as underwriter....
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