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Nov. 11 (Bloomberg) -- Credit Suisse Group AG, Switzerland’s second-biggest bank, was sued by IKB Deutsche Industriebank AG over $215.4 million in residential mortgage- backed securities. IKB accused Credit Suisse of “misrepresentations concerning the sale of, and role in the creation and sale” of the securities, purchased by IKB and Rio Debt Holdings (Ireland) Ltd., according to documents filed yesterday in New York State Supreme Court in Manhattan. The suit seeks rescission of the sale and purchase of the notes, which were arranged, collateralized, underwritten and sold by Credit Suisse, IKB said in the court documents. IKB seeks restitution and damages of at least $215.4 million. Cigarettes Cheap “These allegations are meritless and we will vigorously defend against them,” Credit Suisse said in a statement. “IKB was well informed on the risks associated with these investments. Credit Suisse cannot be held accountable for IKB’s losses on these securities nor for the decline in the U.S. housing market.” The case is IKB Deutsche Industriebank AG v. Credit Suisse Securities (USA) LLC, 653122/2011, New York State Supreme Court, New York County (Manhattan). For the latest new suits news, click here. For copies of recent civil complaints, click here. Lawsuits/Pretrial ‘Vexatious’ Geologist Makes Class-Action Fights His Business Marlboro Cigarettes Online James J. Hayes agreed to use $300,000 he was paid in a lawsuit settlement in 2008 to start a foundation to create “a more harmonious working relationship between shareholders and their advocates.” Marlboro Cigarettes Sale It hasn’t worked out that way, according to subsequent legal opponents, Bloomberg News’Newport Cigarettes David Glovin reports. Hayes is using the money to finance objections to settlements in class- action lawsuits involving companies whose shares he owns. Because a class action can’t be settled without a judge’s approval,Cheap Cigarettes sale his aim is to block a deal that he says isn’t fair until lawyers change the accord’s terms -- and pay him a fee. Marlboro Cigarettes “It’s a vehicle I’m using in objecting,”Cheap Cigarettes Online Hayes, 66, said in an interview about his foundation. “You can call it a business.” Newport Cigarettes wholesale Hayes, a former geologist who never attended law school, won the $300,000 payment to his Foundation for Efficient Markets in March 2008 after objecting to a $3.2 billion settlement of a fraud suit against Tyco International Ltd.Cheap Newport Cigarettes






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