Legal Opinion
Elbit Systems, Ltd. v. Credit Suisse Group
District Court, S.D. New York
Decided January 7, 2013No. 10 Civ. 10(SHS)PublishedCited by 5 opinions
1Opinion of the Court
OPINION & ORDER
SIDNEY H. STEIN, District Judge.
This securities fraud action hinges on the presence of an agency relationship between a broker-dealer and its corporate parent. Plaintiff Elbit Systems Ltd. has sued defendant Credit Suisse Group (“CSG”) for securities fraud, aiding and abetting common law fraud, and unjust enrichment. Elbit seeks to hold CSG liable for the conduct of two brokers at its subsidiary, Credit Suisse Securities (USA) LLC (“CSS”). CSG has now moved to dismiss the Complaint on the theory that, in essence, Elbit should have sued CSS directly. To this end, CSG contends…
2Cases cited33 opinions
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- ATSI Communications, Inc. v. Shaar Fund, Ltd.Court of Appeals for the Second Circuit · 2007
- Central Bank of Denver, N. A. v. First Interstate Bank of Denver, N. A.Supreme Court of the United States · 1994
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