Investment Banking

Credit Suisse faces $160m claim in London court over ‘systemic fraud’

New case heads back to the financial crisis as Swiss lender is in the crosshairs again

CDO transaction in the spotlight as Credit Suisse accused of providing investors with false information
CDO transaction in the spotlight as Credit Suisse accused of providing investors with false information Photo: Fabrice Coffrini/Getty Images

Credit Suisse will face a $160m claim in London's High Court on 20 April that it made fraudulent misrepresentations around a mortgage-backed security deal.

German bank IKB, which lost $100m on notes backing a collateralised debt obligation transaction, is alleging a range of incorrect information was given to investors by the Swiss lender.

WSJ Logo