Credit Suisse RMBS Fraud Suit Sent To State Court

Law360, New York (February 27, 2013, 1:32 PM EST) -- A Minnesota federal judge on Tuesday granted Minnesota Life Insurance Co. and Securian Financial Group Inc.'s request to return to state court their suit against a Credit Suisse Group AG unit and others over $43 million in allegedly fraudulent residential mortgage-backed securities.

Credit Suisse Securities USA LLC, Credit Suisse First Boston Mortgage Securities Corp. and DLJ Mortgage Capital Inc. had tried to dodge the suit by removing it to federal court, claiming it was directly related to the bankruptcy of GMAC Mortgage LLC, which originated some...
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