Sealink Sues Citigroup Over $513M In Soured RMBS

Law360, New York (November 7, 2012, 7:47 PM EST) -- Irish financial firm Sealink Funding Ltd. continued its effort to recoup losses from residential mortgage-backed securities Wednesday, suing Citigroup Inc. in New York state court for allegedly misrepresenting investments that ultimately failed, costing Sealink $513 million.

The lawsuit is the latest in a string Sealink has lobbed at banks and investment firms, including UBS AG, Credit Suisse, Bear Stearns Cos. Inc., Goldman Sachs & Co., Morgan Stanley and Barclays Bank PLC. In its latest suit, the Irish firm accuses Citigroup Inc. and several subsidiaries of misrepresenting...
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