Credit Suisse Loses Bid To Dismiss AOL Research Suit

Law360, New York (December 4, 2006, 12:00 AM EST) -- In a setback for Credit Suisse AG, the Swiss investment bank’s U.S. arm has failed to dismiss a class action lawsuit over the glowing research it provided during Time Warner Inc.’s botched merger with AOL.

In a decision issued Nov. 30, the U.S. District Court for Massachusetts rejected Credit Suisse’s argument that the defendants failed to allege the research led to their financial losses and, in any case, failed to prove they had relied on the research.

“I conclude that plaintiffs have adequately pled that [the...
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