the staff of the Ridgewood blog
Trenton NJ, the Office of the Attorney General announced today that the New Jersey Bureau of Securities has reached a $495 million agreement in principle with Credit Suisse Securities (USA) LLC, Credit Suisse First Boston Mortgage Securities Corp., and DLJ Mortgage Capital, Inc. (collectively “Credit Suisse”) that would resolve a lawsuit arising from the offer and sale of toxic residential mortgage-backed securities (“RMBS”) from 2006 to 2007 in the run-up to the 2008 financial crisis. Once final, the deal will be one of New Jersey’s largest civil monetary recoveries in the state’s history, and will include, among other things, approximately $300 million in restitution for investors nationwide.
