Credit Suisse Reportedly Settles Suit Over $1B Fraud

Law360, New York (May 30, 2013, 6:11 PM EDT) -- An Israeli military-tech company on Thursday dropped a lawsuit over Credit Suisse Group Inc.'s alleged involvement in a $1 billion criminal fraud run by two of its brokers, saying the financial services firm agreed to pay a settlement.

At the request of both sides, U.S. District Judge Sidney H. Stein issued an order dismissing the four-year old suit brought by Elbit Systems Ltd. against Credit Suisse. Elbit said in a statement that it had settled.

"Pursuant to the settlement, Elbit Systems will withdraw its lawsuit in return...
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