Credit Suisse Bid For Sanctions Against Lloyds Nixed

Law360, New York (January 5, 2009, 12:00 AM EST) -- A federal magistrate judge overseeing pretrial proceedings in litigation stemming from the collapse of health care lender National Century Financial Enterprises Inc. has rejected a bid by defendant Credit Suisse First Boston Corp. for sanctions against U.K.-based Lloyds TSB Bank PLC.

Facing allegations that it defrauded National Century investors, Credit Suisse had sought sanctions on the grounds that Lloyds, a plaintiff in the litigation, had allegedly concealed the existence of an agreement to settle its claims against a co-defendant, credit ratings agency Moody's Investor Services Inc....
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