Federal District Court Judge Paul A. Crotty Grants Preliminary Approval to $110 million MBS Class Action Settlement in case brought by the New Jersey Carpenters against Credit Suisse and Its Affiliates
January 06, 2016
On January 6, 2016, U.S. District Judge Paul A. Crotty preliminarily approved a $110 million settlement in the mortgage-backed securities class action brought by investors against Credit Suisse AG and its affiliates. This setlement will end claims brought by the New Jersey Carpenters Health Fund and other investors who claimed that the offering documents for the mortgage-backed securities at issue violated the Securities Act as they contained false and misleading misstatements concerning compliance with underwriting standards.
Cohen Milstein serves as Lead Counsel for the Plaintiffs.