Judge allows $250m case to proceed against Credit Suisse
US Judge Marcy Friedman has ruled that Financial Guaranty Insurance's claims against Credit Suisse are not time barred but did agree to narrow the scope of the lawsuit. Credit Suisse is being sued by Financial Guaranty Insurance for $250m, for making the misrepresentations to induce the insurer to guarantee payments due on certain securities issued in a Credit Suisse residential mortgage-backed securitisation transaction.
By Stewart Bishop (August 6, 2015, 3:29 PM EDT) -- A New York judge on Monday ruled that an insurer's breach of contract claims against two units of Credit Suisse Group AG over $250 million in toxic residential mortgage-backed securities are not it time-barred, but agreed to narrow the scope of the lawsuit....

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