Roche Sues Credit Suisse Over $545M ARS

By Christine Caulfield

Law360, New York (October 20, 2009, 3:04 PM ET) -- Roche International Ltd. has hit Credit Suisse Group AG with a lawsuit in the U.S. alleging the bank's brokers fraudulently invested more than $545 million of the Swiss drugmaker's funds into risky auction rate securities.

The suit, filed Oct. 13 in the U.S. District Court for the Southern District of New York, is seeking over $270 million Roche claims was lost as a result of a scam by Credit Suisse's U.S. broker-dealer subsidiary — Credit Suisse Securities (USA) LLC — to collect lucrative commission fees by...
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