BayernLB Hits Goldman Sachs With $512M RMBS Suit

Law360, New York (September 6, 2012, 2:58 PM EDT) -- Several Goldman Sachs Group Inc. units on Wednesday became the latest targets in a string of New York state court suits brought by German bank Bayerische Landesbank over allegedly toxic residential mortgage-backed securities, with GS accused of fraudulently misrepresenting the quality of $512 million in RMBS.

Bayerische Landesbank, also known as BayernLB, purchased just under $512 million in RMBS created, issued and sold by GS in 16 offerings in the months from February 2006 to April 2007, according to BayernLB’s complaint. GS had sold these RMBS...
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