Credit Suisse's NY Banks Escape $500M Bond-Fraud Suit

Law360, New York (January 22, 2014, 8:50 PM EST) -- A New York state judge has dismissed a Brazilian paper company's claims that two New York-based Credit Suisse Group AG banks helped execute the fraudulent sales of $500 million in Argentinean global bonds, citing lack of jurisdiction, according to an order released Wednesday.

Judge Barbara R. Kapnick largely gave Credit Suisse a victory in Industrias de Papel R. Ramenzoni SA's breach of bailment and negligence suit after finding that, contrary to the plaintiff's claims, the global bank actually hadn't acquired U.S.-based entities allegedly involved in the...
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