Credit Suisse Says NY AG's Suit Over RMBS Came Too Late

Law360, New York (December 11, 2013, 4:21 PM EST) -- The New York attorney general waited too long to sue Credit Suisse AG over sales of residential mortgage-backed securities because the state's powerful Martin Act has only a three-year statute of limitations, the Swiss bank said Wedensday at a hearing in New York court.

Richard W. Clary of Cravath Swaine & Moore LLP argued that New York Attorney General Eric Schneiderman's allegations brought under the state's Martin Act — which gives the state broad leeway to prosecute financial crimes and was also the basis for New...
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