Nat'l Century Investors Drop $3B Fraud Suits Against Ex-CEO

Law360, New York (April 9, 2013, 2:30 PM EDT) -- National Century Financial Enterprises Inc. bondholders on Monday dropped their litigation against co-founder and former CEO Lance Poulsen over the health care finance company’s nearly $3 billion securities fraud scheme, saying in light of his presumed insolvency, pursuing the cases against him isn’t worth it.

U.S. District Judge James L. Graham signed off on the order dismissing Poulsen from three related actions without prejudice. Since Credit Suisse Group AG in March agreed to pay $400 million to settle multidistrict and other litigation, only Poulsen remained as...
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Case Title

In Re: National Century Financial Enterprises Inc Investment Litigation


Case Number

2:03-md-01565

Court

Ohio Southern

Nature of Suit

Racketeer/Corrupt Organization

Judge

James L Graham

Date Filed

November 17, 2003


Case Title

Crown Cork & Seal Co, et al v. Credit Suisse First, et al


Case Number

1:12-cv-05803

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

James L. Graham

Date Filed

July 30, 2012

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