Court Denies Underwriter Credit Suisse’s Motion to Dismiss Regarding the Abandonment of Underwriting Standards
In Tsereteli v. Residential Asset Securitization Trust 2006-A8, 08-cv-10637(S.D.N.Y.), the United States District Court for the Southern District of New York has denied the motion to dismiss by the underwriter Credit Suisse Securities (USA) LLC in so far as Credit Suisse sought to dismiss the claims asserted against it based on the abandonment of underwriting standards. Plaintiff, on behalf of investors who purchased Senior Mortgage Pass‑Through Certificates issued by the Residential Asset Securitization Trust 2006‑A8 in a June 28, 2006 public securities offering, allege that Credit Suisse failed in its duty as the underwriter on the offering.
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