Goldman Sachs, Morgan Stanley Sued Over $634M In RMBS

Law360, New York (August 27, 2012, 6:29 PM EDT) -- HSH Nordbank AG sued The Goldman Sachs Group Inc. and Morgan Stanley & Co. Inc. in New York state court on Friday, accusing them of misrepresenting the underwriting standards in $634 million worth of residential mortgage-backed securities that the German bank bought.

Goldman Sachs and its affiliates acted as the depositor, underwriter, seller, sponsor and broker-dealer on $110 million of residential mortgage-backed securities offerings that HSH Nordbank bought, while Morgan Stanley and its affiliates played a similar role for $524 million worth of the securities, according...
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