Credit Suisse Loses Another Bid To Toss $1B Fraud Suit

Law360, Los Angeles (January 7, 2013, 5:26 PM EST) -- A New York federal judge on Monday denied a second attempt by Credit Suisse Group to dismiss a suit brought by the successor of a now-defunct Israeli military-tech company that alleges the bank aided two former brokers in misleading investors into buying $1.1 billion worth of risky securities.

In a 17-page order, Senior U.S. District Judge Sidney H. Stein ruled that the complaint of the plaintiff, Elbit Systems Ltd., contained sufficient factual allegations that Credit Suisse Securities acted as Credit Suisse Group's agent in the transactions...
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