CIFG Assurance North America, Inc. v. Credit Suisse Securities (USA) LLC

Order, Supreme Court, New York County (Jeffrey K. Oing, J.), entered on or about July 16, 2014, which granted defendant’s motion to dismiss the complaint without prejudice, unanimously affirmed, without costs.

Plaintiff, a New York stock insurance company that provided financial guaranty insurance on a credit default swap, alleges that defendant, a registered broker-dealer, induced it to provide the insurance by representing that the collateral for the loans would be selected by a collateral manager, acting independently and in good faith in the interests of long investors, and by further…