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...
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.