Law Suit on DBS High Notes

SINGAPORE, July 10 (Reuters) - More than 200 customers have sued Singapore's DBS Bank, a unit of DBS Group Holdings , in a bid to recover investment losses of around S$17 million ($11.6 million) arising from the collapse of Lehman Brothers, the Straits Times reported on Friday.

Siraj Omar, a director at Premier Law, told Reuters his firm had filed a claim in a Singapore court on behalf of 204 investors but declined to discuss the case. The investors had purchased a callable basket of credit-linked notes, called High Notes 5, from DBS.

A DBS spokeswoman confirmed receipt of the claim, saying the suit was without merit and that DBS planned to defend the lawsuit.