German Bank Sues Capital One, Barclays Over $87M In MBS

Law360, New York (June 12, 2012, 7:42 PM EDT) -- Landesbank Baden-Wuerttemberg on Monday sued Capital One Financial Corp., Credit Suisse Securities LLC and Barclays Bank PLC over $86.7 million in failed residential mortgage-backed securities, the latest European investor going after securities losses in New York state court.

In nearly identical complaints, Germany’s fourth-biggest lender by assets claims that offering materials issued by the companies distorted and omitted information about how the loans had been assigned to the trusts that would collect and pass payments through to bond investors. 

The suits targets Capital One and Credit...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.