Ambac, Credit Suisse End $46M MBS Insurance Coverage Row

Law360, Chicago (March 6, 2013, 2:11 PM EST) -- Ambac Assurance Corp. on Friday resolved its New York state court lawsuit accusing Credit Suisse Group AG units of fraudulently inducing it to issue an insurance policy in connection with a mortgage-backed securities deal that led to defaults and allegedly cost Ambac more than $46 million.

Ambac and the defendants, Credit Suisse Securities (USA) LLC and DLJ Mortgage Capital Inc., lodged their stipulation to discontinue the suit with prejudice. The one-page document did not provide any terms of the agreement, and an attorney for the defendants...
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