Credit Suisse Fires Back At Union Central MBS Fraud Suit

Law360, New York (February 13, 2013, 7:49 PM EST) -- Credit Suisse Securities (USA) LLC told a New York federal judge on Wednesday that Union Central Life Insurance Co. had not sufficiently pled its fraud suit accusing the bank of making false statements and omitting information about the quality of loans included in its mortgage-backed securities pools.

At a morning hearing, Credit Suisse attorney Julie A. North told U.S. District Judge George B. Daniels that Union Central Life Insurance had relied on information that has been known to the public since 2009, meaning that the suit’s...
To view the full article, register now.
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.