Credit Suisse Win In Lockup Spat Vacated

Law360, New York (October 11, 2010, 7:52 PM EDT) -- A Delaware state court has vacated a July 2009 opinion in favor of Credit Suisse Securities (USA) LLC in a dispute over a lockup agreement, finding that it might have erred by relying on inadequate evidence.

The order of vacatur came after documents emerged that cast doubt on the court's earlier determinations on the lockup agreement between plaintiff West Coast Opportunity Fund LLC and a third party, according to an opinion Monday by Delaware Chancery Court Vice Chancellor John W. Noble.

“That decision inevitably was premised...
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