Citigroup and Goldman Sachs were sued in New York by lender IKB Deutsche Industriebank AG over losses on $210.6 million in MBS.

The Dusseldorf, Germany-based bank claims Citigroup and Goldman Sachs made "material misrepresentations" about the loans backing the securities and about the transfer of the loans into trusts, according to filings today in New York State Supreme Court.

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