Credit Suisse Must Pay Highland $121 Million Over Las Vegas Deal
This content was published on June 29, 2021 - 00:12
June 29, 2021 - 00:12
(Bloomberg) Credit Suisse Group AG must pay Highland Capital Management $121 million for a failed 2007 Las Vegas real estate deal, a Texas state court ruled.
The ruling follows a decision by the Texas Supreme Court in April 2020 throwing out $287.5 million in damages awarded to Credit Suisse by a Dallas trial judge and ordering the court to recalculate the $40 million awarded by a jury. The jury found that the bank had inflated the appraisal used to finance a golf development ahead of the 2008 housing crash.
Credit Suisse must face lawsuit over U.S. volatility crash
By Jonathan Stempel
Reuters
NEW YORK (Reuters) - A U.S. appeals court on Tuesday revived a lawsuit accusing Credit Suisse Group AG of causing huge losses by defrauding investors in a complex product for betting on stock market swings that lost 96% of its value in a single day.
The 2nd U.S. Circuit Court of Appeals in Manhattan said investors could try to prove Credit Suisse intended to collapse the market for its VelocityShares Daily Inverse VIX Short-Term Exchange-Traded Notes ( XIV Notes ) through just 15 minutes of its own trading of futures contracts.
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Mizuho and Credit Suisse Join DirectBooks
December 16, 2020 GMT
(PRNewsfoto/DirectBooks)
NEW YORK, Dec. 16, 2020 /PRNewswire/ DirectBooks ™, the capital markets consortium founded to optimize global financing markets, today announced that Mizuho and Credit Suisse have joined the DirectBooks platform. Addressing inefficiencies in the marketplace across multiple communication channels, DirectBooks is simplifying the primary issuance process through the use of structured data and streamlined communications.
Mizuho strengthens the DirectBooks platform with its top ten USD Investment Grade position and further complements the consortium’s presence through its global strength in capital markets across the Americas, EMEA and Asia, including its number one ranking in Japanese Yen Bonds.