{"id":6080,"date":"2016-12-13T15:41:40","date_gmt":"2016-12-13T21:41:40","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1284"},"modified":"2022-03-22T15:06:27","modified_gmt":"2022-03-22T20:06:27","slug":"11b-rmbs-fraud-lawsuit-credit-suisse-proceed","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/","title":{"rendered":"$11B RMBS Fraud Lawsuit Against Credit Suisse to Proceed"},"content":{"rendered":"<p>According to the Appellate Division, First Department in New York, the state\u2019s attorney general can move forward with his $11B investor fraud case against Credit Suisse (CS). The state appeals court decided that in this residential mortgage-backed securities lawsuit, a six-year statute of limitations and not a three-year one was applicable.<\/p>\n<p>The civil case was brought in Manhattan Supreme Court four years ago. It accuses the several of the bank\u2019s units of wrongly persuading investors to buy toxic residential mortgage-backed-securities in 2006 and 2007. The complaint states that 24% of Credit Suisse\u2019s loans that were tied to RMBS from those two years were liquidated. Investors went on to sustain $11.2B in losses.<\/p>\n<p>In a 3-2 ruling, the justice\u2019s panel said that NY AG Eric Schneiderman\u2019s fraud claims are ones that may have been brought prior to the writing of the statute. As a result, wrote the justices, the lengthier statute of limitations is to what this case is subject.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/#more-6080\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the Appellate Division, First Department in New York, the state\u2019s attorney general can move forward with his $11B investor fraud case against Credit Suisse (CS). The state appeals court decided that in this residential mortgage-backed securities lawsuit, a six-year statute of limitations and not a three-year one was applicable. The civil case was [&hellip;]<\/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":[2650],"class_list":["post-6080","post","type-post","status-publish","format-standard","hentry","category-credit-suisse","category-financial-firms","category-mortgagebacked-securities","tag-residential-mortgage-backed-securities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>$11B RMBS Fraud Case Against Credit Suisse to Proceed | SSEK Law<\/title>\n<meta name=\"description\" content=\"According to the Appellate Division, First Department in New York, the state\u2019s attorney general can move forward with his $11B investor fraud case against &#8212; December 13, 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\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"$11B RMBS Fraud Case Against Credit Suisse to Proceed | SSEK Law\" \/>\n<meta name=\"twitter:description\" content=\"According to the Appellate Division, First Department in New York, the state\u2019s attorney general can move forward with his $11B investor fraud case against &#8212; December 13, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"$11B RMBS Fraud Case Against Credit Suisse to Proceed | SSEK Law","description":"According to the Appellate Division, First Department in New York, the state\u2019s attorney general can move forward with his $11B investor fraud case against &#8212; December 13, 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\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/","twitter_card":"summary_large_image","twitter_title":"$11B RMBS Fraud Case Against Credit Suisse to Proceed | SSEK Law","twitter_description":"According to the Appellate Division, First Department in New York, the state\u2019s attorney general can move forward with his $11B investor fraud case against &#8212; December 13, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"$11B RMBS Fraud Lawsuit Against Credit Suisse to Proceed","datePublished":"2016-12-13T21:41:40+00:00","dateModified":"2022-03-22T20:06:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/"},"wordCount":417,"keywords":["residential mortgage-backed securities"],"articleSection":["Credit Suisse","Financial Firms","Mortgage-Backed Securities"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/","url":"https:\/\/www.investorlawyers.com\/blog\/11b-rmbs-fraud-lawsuit-credit-suisse-proceed\/","name":"$11B RMBS Fraud Case Against Credit Suisse to Proceed | SSEK Law","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-12-13T21:41:40+00:00","dateModified":"2022-03-22T20:06:27+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"According to the Appellate Division, First Department in New York, the state\u2019s attorney general can move forward with his $11B investor fraud case against &#8212; 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