Chamber Backs Barclays In MBS Disclosure Row In 2nd Circ.

Law360, New York (September 14, 2012, 4:23 PM EDT) -- The U.S. Chamber of Commerce on Wednesday warned the Second Circuit that shareholders trying to revive a proposed class action accusing Barclays PLC of downplaying exposure to mortgage-backed securities are advancing a dangerous theory that would require disclosure of every conceivable risk in corporate portfolios.

In its amicus brief, the chamber says it’s absurd for investors to suggest Barclays’ statements that it “actively managed” risk and maintained a “broadly stable risk profile” created a duty to provide a detailed breakdown of all categories of mortgage-related assets...
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