Credit Suisse Looks To Toss Solar Energy Co.'s Investor Suit

Law360, New York (May 3, 2017, 4:46 PM EDT) -- Credit Suisse urged a New York federal judge on Tuesday to toss a proposed class action brought by a group of Energy Conversion Devices Inc. shareholders accusing the Swiss bank of helping drive the solar energy company into bankruptcy by manipulating the market for ECD's stock through short selling, saying the allegations attack a standard securities transaction that has been carried out "literally dozens of times" without inviting a lawsuit.

In a motion for summary judgment, the bank said that thousands of dollars worth of discovery "utterly repudiates" the core accusations in ECD's investors' suit, which alleges Credit Suisse engaged in...

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