Credit Suisse Dodges PE Firm's Suit Over $12M Investment

Law360, New York (October 29, 2012, 5:59 PM EDT) -- An Ohio federal judge on Friday determined that broker-dealer Credit Suisse Securities LLC was not to blame for the $12 million private equity firm Pharos Capital Partners LP sank into securities of bankrupt health care finance provider New Century Financial Enterprises Inc.

In doing so, U.S. District Judge James L. Graham closed out Pharos’ case against those connected to the $3 billion fraud that drove New Century into bankruptcy, one of dozens of suits investors brought against New Century and those who sold them the stock...
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