Credit Suisse Loses Bid To Toss Nat'l Century Suit

Law360, New York (March 19, 2009, 12:00 AM EDT) -- A federal judge has refused to dismiss a suit against Credit Suisse Securities LLC alleging that it helped National Century Financial Enterprises Inc. run the enormous Ponzi scheme that eventually drove it into bankruptcy.

Judge James L. Graham of the U.S. District Court for the Southern District of Ohio ruled Wednesday that nearly all claims of the lawsuit, which was filed by a trust that now holds National Century's legal causes of action, can proceed, though he dismissed one claim as redundant.

The lawsuit concerns Credit...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.