Credit Suisse Sued by N.Y. Over Losses on Mortgage Bonds
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Credit Suisse Group AG was accused in a lawsuit by New York Attorney General Eric Schneiderman of deceiving investors in mortgage-backed securities that were sold before the financial crisis.
Credit Suisse, which last week agreed to settle U.S. claims that it misled mortgage-bond investors, committed “multiple fraudulent and deceptive acts” in promoting and selling the securities, Schneiderman’s office said in a complaint filed yesterday in New York State Supreme Court.