Credit Suisse Gets Claims Slashed From New Century MDL

Law360, New York (March 2, 2012, 9:31 PM EST) -- An Ohio federal judge on Friday trimmed investor claims in multidistrict litigation against Credit Suisse Securities USA LLC over its role in the nearly $3 billion fraud that drove health care finance provider New Century Financial Enterprises Inc. into bankruptcy.

U.S. District Judge James L. Graham granted Credit Suisse’s motion for summary judgment with regard to all the investors’ negligent misrepresentation claims, as well as several fraud and blue sky law claims.

But the judge allowed claims for punitive damages and claims under the Securities Exchange...
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