Law360, New York (April 27, 2012, 2:05 PM ET) -- Barclays Bank PLC failed to tell securities investors that it had hand-selected and then bet against toxic mortgage loans in a $2 billion collateralized debt obligation, Bayerische Landesbank alleged Wednesday in New York federal court.
Barclays falsely assured the German bank that it had no role in choosing the mortgage-related assets packed into the CDO, called Markov, and that State Street Corp. would pick them, BayernLB's lawsuit said. Instead, Barclays specifically structured the CDO so that it stood to gain if the underlying loans tanked, according...
Barclays Sued Over Alleged CDO Double-Dealing
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