Acting Attorney General Announces Lawsuit Against Credit Suisse Arising From Sale of Over $10 Billion in Troubled Mortgage Backed Securities

TRENTON – December 18, 2013 – (RealEstateRama) — Acting Attorney General John J. Hoffman and Division of Law Director Christopher S. Porrino announced today that the State has filed a lawsuit against Credit Suisse Securities (USA) LLC and two of its affiliates alleging that they offered more than $10 billion in residential mortgage backed securities trusts for sale while misrepresenting the risks involved in the investments, and failing to disclose to investors information about significant defects in the offerings.