Goldman, Deutsche Escape $2.1B Guaranty Bank MBS Suit

Law360, New York (August 19, 2014, 12:32 PM EDT) -- Goldman Sachs & Co.,  Deutsche Bank Securities Inc. and several other banks on Monday dodged the remnants of a lawsuit brought in Texas federal court by the Federal Deposit Insurance Corp. on behalf of defunct Guaranty Bank, which alleged it paid $2.1 billion to acquire 20 shoddy mortgage-backed securities from the banks

In two separate cases, District Judge Sam Sparks granted summary judgment in favor of Goldman Sachs, Deutsche Bank, Merrill Lynch Pierce Fenner & Smith Inc. and RBS Securities Inc., the remaining defendants in the FDIC's 2012 suits against a slew of banks over the 2004 and 2005 purchase of...

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