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Credit Agricole Unit, Magnetar Sued by Intesa Over ‘Pyxis’ CDO

Credit Agricole SA, France’s third-biggest lender, and hedge fund Magnetar Capital LLC were sued by an investor in a collateralized debt obligation that claims to have been defrauded.

Intesa Sanpaolo SpA said in a complaint filed yesterday in Manhattan federal court that it lost $180 million after Credit Agricole’s Calyon unit induced it in 2006 to invest in a CDO secretly structured by Magnetar to lose money.