Gilman Law Announces $350 Million Credit Suisse Lawsuit Related to Turtle Bay Resort, Yellowstone Club, Ginn Clubs & Resorts, and Rhodes Homes & the Park Highlands Master Planned Community Business Wire BOSTON -- August 13, 2013 Credit Suisse Group AG is being sued by entities (Haygood LLC and Allenby LLC) of Highland Capital Management LLP for over $350M. The securities case was filed in New York State Supreme Court. The disagreement is related to dividend capitalization loans for the Turtle Bay Resort, the Yellowstone Club, Ginn Clubs & Resorts and Rhodes Homes and the Park Highlands Master Planned Community. The plaintiffs claim that Credit Suisse marketed loans for high-end residential communities using an unorthodox appraisal methodology that was deceptive and unreasonable. “Armed with these bogus appraisals, Credit Suisse duped the lenders into investing hundreds of millions of dollars in under-collateralized loans that eventually imploded,” according to the plaintiffs. The plaintiffs accuse Credit Suisse of working with “compliant stooges” in global appraisal firms to overvalue the communities that secured the loans so that lenders would invest in under-collateralized loans that would go on to fail. Highland Capital Management is a Dallas-based debt manager, while Credit Suisse is a leading global financial services company based in Zurich. Credit Suisse Sued by Highland Capital Over Resort Loans, Bloomberg, July 17, 2013 Credit Suisse, Highland Face Off Over RE Loan Trades, Law 360, July 17, 2013 What You Can Do As An Investor Gilman Law LLP is providing free legal consultations to investors in dividend capitalization loans marketed by Credit Suisse. If you are an investor in this financial product, then please contact Gilman Law LLP by visiting www.Gilmanlawllp.com, or call Toll Free at 1-888-252-0048. About Gilman Law LLP Gilman Law LLP, a leading national law firm with offices in Florida and Massachusetts, has been recognized for delivering successful results to their clients across a broad range of claims, including securities law violations, derivative actions, antitrust matters, and class action lawsuits. For over 32 years, the Gilman Law LLP team of highly experienced lawyers has earned renown for tireless work on behalf of their clients on many of today’s most challenging and important legal issues. Contact: Gilman Law LLP Beachway Professional Center Tower Suite 202 3301 Bonita Beach Road Bonita Springs, FL 34134 1-888-252-0048 Contact: Gilman Law LLP Kenneth Gilman, 1-888-252-0048
Gilman Law Announces $350 Million Credit Suisse Lawsuit Related to Turtle Bay Resort, Yellowstone Club, Ginn Clubs & Resorts,
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