Goldman Sachs Sued by DZ Bank Over Mortgage Securities
Goldman Sachs made material misrepresentations about loans that were bundled into the securities, DZ Bank said in a filing today in New York State Supreme Court. The claims include fraud and negligent misrepresentation, the lender said.
Two other German lenders -- IKB Deutsche Industriebank AG (IKB) and Bayerische Landesbank -- are suing New York-based Goldman Sachs over losses on mortgage bonds, according to filings this week in state supreme court.
Michael DuVally, a spokesman for Goldman Sachs, declined to comment.
The case is Deutsche Zentral-Genossenschaftsbank AG v. Goldman Sachs Group Inc., 653134-2012, New York State Supreme Court, New York County (Manhattan).
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