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Credit Suisse Group (NYSE:CS): Current price $29.39
United States District Judge James Graham said on Saturday that because New York state law governs apportionment of fault in the case of noteholders suing the bank in regards to fraud at National Century Financial Enterprises, Credit Suisse will be liable for 100 percent of its former Chief Executive Lance Poulsen’s share of damages. Attorneys for the plaintiffs estimate that damages that could be awarded of a figure at more than $2 billion. The judge commented that “If the jury finds at trial that Credit Suisse and Poulsen each committed fraud that caused plaintiff’s losses, then under New York law Credit Suisse will be liable, as to plaintiffs, for 100 percent of Poulsen’s share.”
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