Credit Suisse marketed $3 billion of the National Century's asset-backed securities.

JUDGE REFUSES TO DISMISS CLAIMS AGAINST CREDIT SUISSE REGARDING COMPANY'S COLLAPSE

A federal judge in Columbus has denied motions to dismiss over $1.6 billion in claims filed by investors against Credit Suisse First Boston in a lawsuit that stems from the collapse of an Ohio company that affected health care providers across the country. Plaintiffs in the suit are investors who formerly held "AAA"-rated notes issued by now-defunct health care financing company National Century Financial Enterprises. National Century and its subsidiaries shut down in October 2002 when investors discovered the company had hidden financial problems from investors and auditors. The company's collapse is one of the largest defaults of "AAA"-rated debts securities in decades, and Credit Suisse marketed $3 billion of the National Century's asset-backed securities.


The Associated Press