Credit Suisse Says MBS Investor Class Can't Expand

Law360, New York (February 26, 2014, 8:22 PM EST) -- Credit Suisse AG attorneys on Monday resisted a union benefit fund’s attempt to fold participants in a $825 million mortgage-backed securities offering into a previously certified investor class, arguing in Manhattan federal court that the bonds were bought and sold under differing circumstances.

At oral arguments, Bingham McCutchen LLP’s Jeffrey Smith urged U.S. District Judge Paul A. Crotty to exclude investors in the so-called HEMT 2007-2 certificates arranged by Credit Suisse from a certified class of purchasers of a separate 2006 offering.

Lead plaintiff New Jersey...
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