Barclays (BARC) Plc was sued in Germany by investors who lost money in the 345-million euro ($460 million) Ponzi-scheme fraud by Helmut Kiener’s K1 hedge fund. About 150 suits over so-called X1 and K1 certificates were filed at courts in Frankfurt and Munich, Klaus Nieding, a lawyer for the plaintiffs, said in an e-mailed statement today. When issuing certificates on the underlying Kiener indexes, Barclays failed to properly review the K1 products, said Andreas Tilp, another lawyer working on the cases. More on Bloomberg here.
