Cushman, Credit Suisse Get $24B Resort Investor Suit Pared

Law360, New York (April 2, 2012, 4:05 PM EDT) -- An Idaho federal judge on Friday trimmed a group of property owners’ amended $24 billion putative class action accusing Cushman & Wakefield Inc. and Credit Suisse Group AG of swindling investors in four luxury resort communities in a loan-to-own scheme.

Echoing his 2011 ruling on the owners’ earlier claims, U.S. District Judge Edward J. Lodge accepted most of a magistrate judge’s recommendations and tossed claims of breach of fiduciary duty, unjust enrichment and Consumer Protection Act violations, as well as some fraud and negligent misrepresentation claims....
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