Objector Loses Lead Plaintiff Challenge In Credit Suisse Suit

Law360 (August 28, 2018, 4:26 PM EDT) -- A New York federal judge on Monday overruled Y-GAR Capital LLC's objections to a magistrate judge's lead plaintiff appointment in a consolidated securities action facing Credit Suisse Group AG, finding that the magistrate judge did not err in denying Y-GAR Capital's competing lead plaintiff bid.

Y-GAR Capital hoped to lead a proposed class of investors in Credit Suisse's short-term notes inversely related to the stock market's volatility index, who claim the bank misrepresented the value of the notes during a critical time of steep price drops and substantial investor losses. When three substantially similar investor suits were consolidated in June, U.S....

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