NY Court Revives Damage Claims In $1.8B Credit Suisse Suit

Law360, New York (February 28, 2014, 5:21 PM EST) -- A New York appeals court on Thursday allowed Assured Guaranty Municipal Corp. to pursue a broader range of damages in its suit against Credit Suisse AG over $1.8 billion in residential mortgage-backed securities, finding that a lower court had erred by limiting the insurer’s damages claims.

In a unanimous decision, a five-judge panel of the New York Supreme Court's Appellate Division ruled that Assured Guaranty can seek rescissory and consequential damages against Credit Suisse units DLJ Mortgage Capital Inc. and Credit Suisse Securities (USA) LLC....
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