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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