Highland Capital won a $40m jury verdict after successfully arguing Credit Suisse duped the debt manager into refinancing a shaky real-estate development.
An appraiser and the developer, who weren’t defendants in the suit, also were found to be responsible.
A lawyer for Credit Suisse said the jury’s calculations cut the bank’s liability to $26m. Settlements by appraisal firms and developers, when credited, 'effectively render this a zero judgment', the lawyer, Jeffrey Tillotson, said in an interview after the verdict.
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