Judge Nixes ADCB's Suit Over $40M Restructuring

Law360, New York (August 5, 2011, 1:46 PM EDT) -- A New York state judge dismissed a lawsuit Thursday lodged by Abu Dhabi Commercial Bank PJSC that claimed Credit Suisse Group AG and Standard & Poor's Financial Services LLC oversold the benefits it would receive from restructuring a troubled $40 million investment.

Judge O. Peter Sherwood said Credit Suisse fairly warned ADCB about the transaction's myriad risks from the get-go and added that the Credit Suisse was clear in saying that it was not providing ADCB investment advice or endorsing the restructuring. ADCB might take issue...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.