Legal Opinion
Lone Star Fund v (U.S.), L.P. v. Barclays Bank PLC
Court of Appeals for the Fifth Circuit
Decided January 11, 2010No. 08-11038PublishedCited by 1,442 opinions
1Opinion of the Court
EDITH H. JONES, Chief Judge:
Lone Star Fund V (U.S.), L.P. and LSF5 Bond Holdings, LLC (collectively “Lone Star” or “Appellants”) allege that Barclays Bank PLC and Barclays Capital, Inc. (collectively “Barclays” or “Appel-lees”) engaged in a $60 million fraud relating to mortgage-backed securities that Barclays sold to Lone Star. The district court dismissed the case for failure to state a claim. Because Lone Star fails to allege a misrepresentation in light of the “repurchase or substitute” clauses in the parties’ mortgage-backed securities contracts, we affirm the district court’s dismissal.
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2Cases cited16 opinions
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3Cited by1,442 opinions
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