RCT Wins Appeal Affirming $287 Million Judgment Against Credit Suisse
On February 21, 2018, the Texas Court of Appeals affirmed a $287.5 million judgment in favor of RCT’s client, an affiliate of Highland Capital Management, LP, against Credit Suisse AG and Credit Suisse Securities (USA), LLC. The judgment relates to claims against Credit Suisse for fraud and breach of contract in connection with a grossly inflated appraisal for a $540 million loan to the developers of the Lake Las Vegas resort. The judgment is subject to post-judgment interest, which has already accrued to nearly $64 million.
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Prior results do not guarantee a similar outcome.