* Sued over Lehman-linked High Notes 5

* DBS says claim has no merit, will contest

* Shares ignore news of suit, up 0.4 pct

* DBS sold over S$100 mln of High Notes 5 - MAS (Adds context, DBS share price)

SINGAPORE, July 10 (Reuters) - More than 200 customershave sued Singapore's DBS Bank in a bid to recover investment losses arising from the collapse of U.S. investment bank Lehman Brothers (LEHMQ.PK: Quote, Profile, Research).

Siraj Omar, a director at Premier Law, told Reuters on Friday his firm had filed a claim on behalf of 204 investors in a Singapore court. He declined to discuss the case or reveal the size of the claim, which according to the Straits Times newspaper was around S$17 million ($11.6 million).

The investors had purchased a callable basket of credit-linked notes, called High Notes 5, from DBS Bank, a unit of DBS Group (DBSM.SI: Quote, Profile, Research), Omar said.

A DBS spokeswoman confirmed receipt of the claim. She said the suit was without merit and that DBS planned to contest the suit, which is the first involving the bank's High Notes 5 product.

News of the lawsuit had almost no impact on shares of DBS Group, which were up 0.4 percent on Friday morning at S$11.58 in a generally flat stock market.