Credit Suisse Settles Litigation Over National Century Financial Bonds -Reuters

Credit Suisse Group AG ( CS ) agreed to pay $400 million to a group of investors, settling a lawsuit over the bank's role in selling bonds of National Century Financial Enterprises Inc., which filed for bankruptcy protection in 2002, Reuters reported Thursday.

In addition to the settlement, which included the state of Arizona, AllianceBernstein Holding LP ( AB ) and Allianz SE's (ALIZF) Pimco unit, Credit Suisse reached separate undisclosed settlements with plaintiffs Lloyds TSB Bank PLC and MetLife Inc. ( MET ), Reuters reported.

The plaintiffs had alleged that Credit Suisse was aware National Century had misused investor funds.

In a statement, Credit Suisse said the agreements represented "a full and final settlement" of the noteholder litigation.

Full story at: www.reuters.com/article/2013/03/14/creditsuisse-settlement-idUSL6N0C60Z120130314

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