Lone Star Fund V (US) v. Barclays Bank PLC, No. 08-11038

By FindLaw Staff on January 13, 2010 | Last updated on March 21, 2019

In an action claiming that defendant-bank engaged in a fraud relating to mortgage-backed securities that defendant sold to plaintiff, the dismissal of the action is affirmed where the complaint failed to allege a misrepresentation in light of the "repurchase or substitute" clauses in the parties' mortgage-backed securities contracts.