Credit Suisse Settles Investor Class Action For $70M

Law360, New York (March 10, 2011, 4:29 PM EST) -- Investors accusing Credit Suisse Group AG of failing to disclose its risks associated with subprime lending asked a federal judge in New York Thursday to approve a $70 million settlement that resolves their putative securities class action.

The lead plaintiffs filed a motion seeking preliminary approval of the settlement and certification of a settlement class in the U.S. District Court for the Southern District of New York.

The proposed settlement class includes all purchasers of Credit Suisse American Depository Shares on the New York Stock Exchange...
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Case Information

Case Title

Cornwell et al v. Credit Suisse Group et al


Case Number

1:08-cv-03758

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Victor Marrero

Date Filed

April 21, 2008

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