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...
To view the full article, register now.




Case Information

Case Title

Elbit Systems Ltd. v. Credit Suisse Group

Case Number



New York Southern

Nature of Suit



Sidney H. Stein

Date Filed

January 4, 2010

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.