Credit Suisse Wipes Out $288M Loss Over Flawed Appraisal

Law360 (April 24, 2020, 10:41 AM EDT) -- Credit Suisse Securities USA won't have to pay a unit of hedge fund Highland Capital Management LP $287.5 million for a bungled land appraisal ahead of a 2007 Las Vegas real estate deal, but it can't shake a jury's $40 million fraud verdict, the Texas Supreme Court ruled Friday.

Credit Suisse won't need to pay Claymore Holdings $287.5 million over a bungled land appraisal, after the Texas Supreme Court ruled Friday that the award would have overcompensated Claymore. (AP) The high court wiped out about $211 million in damages and $75 million in prejudgment interest awarded to Highland subsidiary Claymore Holdings...

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