Goldman, TCW Dodge German Bank's MBS Suit

Law360, New York (September 28, 2011, 8:42 PM EDT) -- A federal judge on Wednesday tossed a German bank's suit against Goldman Sachs & Co. and TCW Asset Management Co. over the sale of $37 million in doomed mortgage-backed securities, finding the bank had not provided enough specifics to support its fraud claims.

Landesbank Baden-Wuerttemberg had alleged in New York federal court that Goldman and investment adviser TCW had touted collateralized debt obligations as virtually risk-free while secretly banking on the imminent failure of the investments.

U.S. District Judge William Pauley III dismissed all of Landesbank's...
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Case Information

Case Title

Landesbank Baden-Wurttemberg v. Goldman, Sachs & Co. et al


Case Number

1:10-cv-07549

Court

New York Southern

Nature of Suit

Personal Property: Other

Judge

William H. Pauley, III

Date Filed

October 3, 2010

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