Credit Suisse Dodges Suit Over National Century Fraud

Law360, New York (April 12, 2011, 9:13 PM EDT) -- An Ohio federal judge on Tuesday threw out a lawsuit against Credit Suisse Securities (USA) LLC accusing it of helping to conceal the nearly $3 billion fraud that drove health care finance provider New Century Financial Enterprises Inc. into bankruptcy.

Judge James L. Graham in the U.S. District Court for the Southern District of Ohio granted Credit Suisse’s motion for summary judgment in the suit filed by the Unencumbered Assets Trust, which now holds National Century’s legal causes of action against a host of banks....
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