{"id":5935,"date":"2016-04-08T00:00:00","date_gmt":"2016-04-08T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2016\/04\/credit_suisse_wants_appeals_co"},"modified":"2022-03-22T15:07:16","modified_gmt":"2022-03-22T20:07:16","slug":"credit-suisse-wants-appeals-co","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/","title":{"rendered":"Credit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit"},"content":{"rendered":"

A number of Credit Suisse Group (GS) units want a NY court to rule that the RMBS case<\/a> brought by Attorney General Eric Schneiderman is time-barred in the wake of precedent from the state\u2019s highest court. The AG, who brought the case under the Martin Act, is seeking more than $11.2B.<\/p>\n

According to the complaint, in \u201906 and \u201907 Credit Suisse put together over 60 residential mortgage-backed securities with about 248,000 loans. 24% of the loans have since been liquidated and investors have lost $11.2B on initial balances of about $93.8B. The state claims that investor losses resulted because of the bank\u2019 determination to raise the volume of mortgages it bought and the securities it generated. Credit Suisse employees purportedly paid a higher price for mortgages and didn’t address reports of problems identified by due diligence forms so as to preserve relationships with mortgage originators. The bank is accused of making false claims about due diligence when choosing which mortgages to bundle with the securities.<\/p>\n<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A number of Credit Suisse Group (GS) units want a NY court to rule that the RMBS case brought by Attorney General Eric Schneiderman is time-barred in the wake of precedent from the state\u2019s highest court. The AG, who brought the case under the Martin Act, is seeking more than $11.2B. According to the complaint, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3817,3752,3757],"tags":[],"class_list":["post-5935","post","type-post","status-publish","format-standard","hentry","category-credit-suisse","category-financial-firms","category-mortgagebacked-securities"],"yoast_head":"\nCredit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit — Investor Lawyers Blog — April 8, 2016<\/title>\n<meta name=\"description\" content=\"A number of Credit Suisse Group (GS) units want a NY court to rule that the RMBS case brought by Attorney General Eric Schneiderman is time-barred in the — April 8, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Credit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit — Investor Lawyers Blog — April 8, 2016\" \/>\n<meta name=\"twitter:description\" content=\"A number of Credit Suisse Group (GS) units want a NY court to rule that the RMBS case brought by Attorney General Eric Schneiderman is time-barred in the — April 8, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Credit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit — Investor Lawyers Blog — April 8, 2016","description":"A number of Credit Suisse Group (GS) units want a NY court to rule that the RMBS case brought by Attorney General Eric Schneiderman is time-barred in the — April 8, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/","twitter_card":"summary_large_image","twitter_title":"Credit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit — Investor Lawyers Blog — April 8, 2016","twitter_description":"A number of Credit Suisse Group (GS) units want a NY court to rule that the RMBS case brought by Attorney General Eric Schneiderman is time-barred in the — April 8, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Credit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit","datePublished":"2016-04-08T05:00:00+00:00","dateModified":"2022-03-22T20:07:16+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/"},"wordCount":530,"articleSection":["Credit Suisse","Financial Firms","Mortgage-Backed Securities"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/","url":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/","name":"Credit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit — Investor Lawyers Blog — April 8, 2016","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-04-08T05:00:00+00:00","dateModified":"2022-03-22T20:07:16+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"A number of Credit Suisse Group (GS) units want a NY court to rule that the RMBS case brought by Attorney General Eric Schneiderman is time-barred in the — April 8, 2016","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/credit-suisse-wants-appeals-co\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Credit Suisse Wants Appeals Court to Dismiss NY AG\u2019s $11.2B Residential Mortgage-Backed Securities Fraud Lawsuit"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1xJ","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=5935"}],"version-history":[{"count":2,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5935\/revisions"}],"predecessor-version":[{"id":25129,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/5935\/revisions\/25129"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=5935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=5935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=5935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}