German Bank Sues Goldman Sachs Over $189 Million in RMBS

more+
less-
more+
less-
Explore:  Goldman Sachs RMBS

Deutsche Zentral-Genossenschaftsbank AG (DZ Bank) filed a summons with notice in New York State court on September 7, 2012, against several Goldman Sachs entities asserting claims in connection with DZ Bank’s alleged purchase of 9 RMBS for over $189 million. DZ Bank alleges that Goldman Sachs provided offering materials that misrepresented or omitted material information about, among other things, the underwriting standards used to originate the underlying loans, the statistical characteristics of the loans, and the transfer of the loans to the RMBS trusts. DZ Bank asserts causes of action for common-law fraud, fraudulent inducement, negligent misrepresentation, aiding and abetting fraud, declaratory judgment, and contract claims, including rescission, restitution, and mutual mistake. DZ Bank seeks compensatory damages, punitive damages, and rescission. Summons.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick - Structured Finance Group | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×