The Royal Bank of Scotland (RBS) has won a bid to dismiss a lawsuit that stems from its sale of securities backed by U.S. residential mortgages.

The company will not have to go to trial to face accusations it fooled South Korea's Woori Bank into investing $80 million in collateralized debt obligations backed by residential mortgage-backed securities that it knew were riskier than the assessments RBS persuaded ratings agency to assign to them, U.S. District Judge Harold Baer ruled Thursday.

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