Credit Suisse Can't Shake $1B ARS Fraud Claims

Law360, New York (February 8, 2012, 3:16 PM EST) -- Credit Suisse Group AG lost a bid Tuesday to shield itself from a suit brought by the successor of a now-defunct Israeli military-tech company that alleges the bank aided two former brokers in misleading investors into buying $1.1 billion worth of risky securities.

Credit Suisse had argued that a settlement it inked with Tadiran Communications Ltd., which contained a broad claims release, blocked the claims brought by Tadiran's successor, Elbit Systems Ltd. Elbit alleges Credit Suisse aided and abetted the massive fraud allegedly committed by ex-brokers...
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Case Information

Case Title

Elbit Systems Ltd. v. Credit Suisse Group


Case Number

1:10-cv-00010

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Sidney H. Stein

Date Filed

January 4, 2010

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