Credit Suisse to pay $400 million to end U.S. bond lawsuits

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A sign of Swiss bank Credit Suisse is pictured outside its U.S. headquarters in New York CityBy Katharina Bart and Nate Raymond ZURICH/NEW YORK (Reuters) – Credit Suisse Group AG has agreed to pay at least $400 million to settle lawsuits by investors over the Swiss bank's role in raising money for a healthcare financier that collapsed in a $2.9 billion fraud more than a decade ago. The settlement averts a trial in Manhattan federal court that had been scheduled to begin in two weeks. It stems from the activities of National Century Financial Enterprises Inc, which filed for bankruptcy protection in November of 2002. …

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