Claims Revived In Investors' $2.4B Credit Suisse MBS Suit
By Natalie Rodriguez
Law360, New York (January 24, 2013, 7:43 PM ET) -- Bowing to a recent Second Circuit precedent, a New York federal judge on Wednesday reinstated certain securities holders in a pension fund's certified class action against Credit Suisse AG entities that allegedly deceived investors with offering documents for $2.4 billion of mortgage-backed securities.
Judge Paul A. Crotty reversed an earlier decision that had barred certain 2006 and 2007 certificate holders from entering the class on the ground of lacking standing under the Securities Act since the lead plaintiff had not bought from those trusts. But in...