2nd Circ. Allows Credit Suisse Class Cert. Appeal In MBS Row

Law360, New York (November 26, 2012, 8:45 PM EST) -- The Second Circuit on Monday agreed to hear Credit Suisse Securities USA LLC's appeal of class certification in a lawsuit where it stands accused of duping investors into purchasing $642 million worth of subprime residential mortgage-backed securities just before the U.S. housing bubble burst.

With a brief order, a three-judge appeals panel granted Credit Suisse's July 16 petition for leave to appeal in which the defendant argued that a New York federal judge's June certification of an overly broad, "blunderbuss class" of investors flew in the...
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