Capital One Sued Over $170M In MBS

Law360, New York (March 9, 2012, 3:10 PM EST) -- A parade of litigation in New York state court over residential mortgage-backed securities continued Thursday with Landesbank Baden-Wuerttemberg claiming Capital One Financial Corp. and Credit Suisse Securities USA LLC misrepresented $168.6 million in the investments.

The German bank, which has brought similar suits, claims that offering materials issued by the companies contained distortions and omissions regarding the legal validity of assignments of the mortgage loans to trusts that were formed to hold the pooled loans and collect interest and principal payments on them, according to the...
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