Barclays says will fight San Marino bank action
LONDON (Reuters) - Barclays (BARC.L) said it would "vigorously" contest a 170 million euro (134.3 million pound) legal action launched against it on Monday by Cassa di Risparmio di San Marino SpA.
"The legal action has no merit and we will contest it vigorously," a spokesman for Barclays said in an emailed statement.
The San Marino bank on Monday filed a complaint before the High Court in connection with CDO-squared securities issued by Barclays and two affiliates.
The San Marino bank is seeking indemnification for damages of around 170 million euros in actual losses and lost income.
(Reporting by Myles Neligan)
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