A $73 million lawsuit against Bankers Trust New York Corp. by Gibson Greetings Inc., could set the stage for similar suits by other disgruntled derivatives users, some observers said.

The lawsuit alleges that Bankers Trust and its affiliate, BT Securities Corp., made false representations and failed to disclose to the Cincinnati-based greeting card giant the risks involved with the derivatives and swaps products it was selling them, leading to a loss of $19.7 million on leveraged swaps.

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