BayernLB Drops $2B CDO Suit Against Barclays, State Street

Law360, New York (October 11, 2013, 12:22 PM EDT) -- German bank Bayerische Landesbank has ended its securities action accusing State Street Corp. and Barclays Bank PLC of collaborating to defraud investors in a failed $2 billion collateralized debt obligation, according to a Thursday filing.

U.S. District Judge Louis L. Stanton signed off on the dismissal of the case with prejudice, with all rights of appeal waived and each party bearing its own costs and fees for the action. There was no mention of a settlement.

BayernLB accused Barclays of giving it false assurances that it...
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