Relevant:
- Goldman Sachs sued by Allstate over ‘Junk' Securities
- Goldman Sachs Sued by Allstate Over $100 Million in Mortgage Securities
- Goldman Sachs Sued by U.S. Over Securities Sold to Failed Credit Unions
- Goldman Sachs Must Face Lawsuit Over 2007 Mortgage Bonds
- Goldman Sachs Sued Over German Bank's $37 Million Loss on CDO
2012-09-06 — bloomberg.com
Goldman Sachs Group Inc. (GS) was sued by German lender Bayerische Landesbank and accused of fraud over losses on mortgage-backed securities.
BayernLB, which bought about $511.9 million in securities in 16 offerings that Goldman Sachs underwrote, said the securities were riskier than promised and were "destined to fail," according to a complaint filed yesterday in New York State Supreme Court.
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