Expert Testimony Dooms Credit Suisse Fraud Suit

Law360, New York (January 18, 2012, 4:27 PM EST) -- A Massachusetts federal judge on Friday dismissed a class action accusing a Credit Suisse Group AG unit and four of its former executives of misleading investors during AOL Inc.'s merger with Time Warner Inc., saying an expert witness's testimony for the investors was flawed.

U.S. District Judge Nathaniel Gorton said that because the expert testimony of economist Dr. Scott Hakala was unreliable, the investors who brought the suit had been unable to show that information about inflated earnings at AOL omitted from Credit Suisse reports had...
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.