Motley Rice securities attorneys and co-counsel Sturman LLC filed suit on behalf of one of Germany's largest state-owned banks against Goldman, Sachs & Co. (Goldman Sachs) and TCW Asset Management Company (TCW) on October 5, 2010 in the U.S. District Court for the Southern District of New York. The lawsuit seeks the recovery of $37 million of losses as a result of Goldman Sachs and TCW's alleged fraud, negligence, and other wrongful conduct in connection with the structuring, marketing, management and sale of collateralized debt obligation (CDO) notes known as Davis Square Funding VI (Davis Square VI).
The lawsuit alleges that Goldman Sachs misrepresented the quality and minimized the risks of the Davis Square VI notes. Goldman Sachs and TCW are accused of common law fraud, negligent misrepresentation and unjust enrichment. The lawsuit also seeks compensatory damages for all losses sustained as a result of the defendants' alleged wrongdoing and punitive damages for alleged intentional, willful and malicious misconduct.
Read more about the case in articles published by Bloomberg and the Wall Street Journal.
For more information about Landesbank Baden-Württemberg v. Goldman, Sachs & Co. and TCW Asset Management Company, 10-CV-7549-WHP (S.D.N.Y.), contact William H. Narwold (CT, DC, NY, SC), William S. Norton (MA, NY, SC) or call 1-800-768-4026 .