Credit Suisse (CS) Fails to Get $10B MBS Suit Dismissed in New York

Credit Suisse (NYSE: CS) could be facing billions in damages under a new lawsuit filed by the New York attorney general.

Bloomberg noted that a New York state supreme court judge failed to dismiss a lawsuit brought about by NY AG Eric Schneiderman, which focuses on the sale of faulty mortgage-backed securities prior to the housing market crash of 2008.

Credit Suisse could face as much as $10 billion in damages.

Shares of Credit Suisse are flat in early trading Friday.

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