Credit Suisse Loses Another Bid To Toss $1B Fraud Suit

Law360, Los Angeles (January 7, 2013, 5:26 PM EST) -- A New York federal judge on Monday denied a second attempt by Credit Suisse Group to dismiss 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.

In a 17-page order, Senior U.S. District Judge Sidney H. Stein ruled that the complaint of the plaintiff, Elbit Systems Ltd., contained sufficient factual allegations that Credit Suisse Securities acted as Credit Suisse Group's agent in the transactions...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Elbit Systems Ltd. v. Credit Suisse Group


Case Number

1:10-cv-00010

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Sidney H. Stein

Date Filed

January 4, 2010

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.