NY Appeals Court Revives Credit Suisse Fraud Suit

Law360, New York (September 23, 2009, 2:32 PM EDT) -- A New York appeals court has revived a group of investors' arbitration claim against financial services firm Credit Suisse Group AG, reversing a lower court's ruling that the investors filed the claim too late.

The investors, led by New York billionaire Ronald Lauder, filed suit in April 2007 alleging the company misrepresented the financial experience of some of its hedge fund managers, resulting in a loss of $11.4 million.

Credit Suisse petitioned a New York state court to dismiss the case as time-barred — which it...
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