State Street, Barclays Dodge Claims In Suit Over $2B CDO

Law360, New York (November 5, 2012, 7:30 PM EST) -- A New York federal judge on Monday trimmed a securities suit alleging State Street Corp. and Barclays Bank PLC collaborated to defraud investors in a failed $2 billion collateralized debt obligation, saying German bank Bayerische Landesbank can't claim the duo had a fiduciary duty to the bank.

Because Bayerische Landesbank, also known as BayernLB, failed to show the pair had a fiduciary relationship with the plaintiff in the first place, it could not support its breach of fiduciary duty claims, the judge said. BayernLB's New York branch...
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