New York AG files Martin Act complaint against Credit Suisse New York Attorney General Eric Schneiderman announced that he filed a Martin Act complaint against Credit Suisse and its affiliates "for making fraudulent misrepresentations and omissions to promote the sale of residential mortgage-backed securities to investors." The lawsuit alleges Credit Suisse deceived investors as to the care with which they evaluated the quality of mortgage loans packaged into residential mortgage-backed securities prior to 2008.
Credit Suisse reports Q1 net income CHF 1.05B vs. CHF 859M Reports Q1 core pre-tax income of CHF 1.54B. Reports Q1 revenue CHF 6.67B vs. CHF 6.47B last year. Reports look-through CET1 ratio of 10% as of the end of Q1.