Judge Tosses Securities Suit Against Credit Suisse

By Shannon Henson

Law360, New York (September 29, 2009, 12:43 PM ET) -- A federal judge has dismissed a proposed securities class action accusing Credit Suisse and some of its leaders of not disclosing its risk associated with subprime lending, ruling that the plaintiffs failed to prove that the court had subject matter jurisdiction.

In a short order Monday, Judge Victor Marrero of the U.S. District Court for the Southern District of New York tossed the case, saying his reasoning would be spelled out in a decision issued at a later date.

Judge Marrero also said the decision would...
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