Barclays Off The Hook In $60M Mortgage Fraud Suit

Law360, New York (January 12, 2010, 6:11 PM EST) -- A federal appeals court has let Barclays Bank PLC and Barclays Capital Inc. off the hook in a Texas investment fund's $60 million mortgage-backed securities fraud action against the bank, finding that the fund was unable to state a claim.

A three-judge panel of the U.S. Court of Appeals for the Fifth Circuit on Monday affirmed a district court's dismissal of Lone Star Fund V (US) LP and LSF5 Bond Holdings LLC's suit against the bank, saying Lone Star failed to allege a misrepresentation in light...
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