In Re National Century Financial Enterprises, Inc., Investment Litigation

OPINION AND ORDER ON THE MOTIONS FOR SUMMARY JUDGMENT AS TO CREDIT SUISSE’S LIABILITY TO THE NOTEHOLDER PLAINTIFFS UNDER SECTION 1707.43 OF THE OHIO SECURITIES ACT

JAMES L. GRAHAM, District Judge.

Before the court on cross motions for summary judgment is the issue of whether defendant Credit Suisse Securities LLC is liable under Ohio Revised Code § 1707.43 for its role in the sale of asset-backed securities issued by National Century Financial Enterprises, Inc. It is undisputed that National Century committed a massive fraud that cost the plaintiffs (the “Noteholders”) nearly $2 billion.

Credit…