Credit Suisse, Investors Clash Over Timeliness Of MBS Suits
By Eric Hornbeck (September 9, 2013, 7:37 PM EDT) -- Whether $1.4 billion in alleged mortgage-backed securities claims against a Credit Suisse AG affiliate were filed too late comes down to which of her colleagues' earlier decisions in other mortgage-backed securities cases a New York state judge finds more compelling, attorneys argued Monday.
Credit Suisse AG unit DLJ Mortgage Capital Inc. has been targeted in several lawsuits accusing it of making misrepresentations on loans in pools that have cost investors $1.4 billion, but Barry S. Levin of Orrick Herrington & Sutcliffe LLP, who represents DLJ, said they were filed too late under New York state law.
Levin told Judge Eileen Bransten...
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