Credit Suisse Sheds Solar Energy Short-Selling Suit
By Michael Phillis (September 5, 2017, 5:33 PM EDT) -- Credit Suisse International was handed a win by a New York federal judge in a proposed class action brought by Energy Conversion Devices Inc. shareholders alleging the bank pushed ECD into bankruptcy by manipulating the market for the solar panel maker's stock through short selling.
Judge Sarah Netburn granted summary judgment Friday to Credit Suisse on all claims and threw out expert testimony that supported bedrock allegations made by the investors. The opinion said the testimony made unreasonable assumptions. And, accusations that Credit Suisse established excessive short positions in violation of an agreement that pushed ECD off the financial cliff did...
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