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Empresas y finanzas

Fund targets banks over subprime losses: report


    NEW YORK (Reuters) - Fund Cambridge Place Investment Partners is suing a number of banks for mis-selling a total of $2.4 billion in mortgage-backed securities, an online report by The Daily Telegraph newspaper in London said on Sunday.

    Cambridge Place, a fund based in Boston, Massachusetts, is suing the U.S. branches of three British banks -- HSBC , Barclays and RBS -- and targeting JPMorgan , Citigroup , Credit Suisse , Deutsche Bank , Merrill Lynch, UBS , Goldman Sachs and Morgan Stanley , according to the report.

    The lawsuit was filed in Boston, the paper said, citing details from the lawsuit.

    Cambridge Place, HSBC, Bank of America Merrill Lynch, Goldman Sachs, Credit Suisse, RBS, Deutsche Bank, Morgan Stanley, Barclays and UBS were not immediately available for comment.

    Citi and JPMorgan declined comment.

    (Editing by Dhara Ranasinghe)