Search
 

LaCorp Reaps $600,000 Settlement From Credit Suisse

Louisiana Corporate Credit Union has emerged victorious from a decade-long suit involving the liquidation of National Century Financial Enterprises. The corporate, in an announcement last week, said it has agreed to a $600,000 settlement with Credit Suisse, the last remaining defendant in the securities fraud case.

By Heather Anderson | Updated on April 17, 2013

Louisiana Corporate Credit Union has emerged victorious from a decade-long suit involving the liquidation of National Century Financial Enterprises. The corporate, in an announcement last week, said it has agreed to a $600,000 settlement with Credit Suisse, the last remaining defendant in the securities fraud case.

“This settlement for nearly $600,000 after legal fees came after years of strenuous litigation and brings the total recovery to 98% of Louisiana Corporate’s original investment amount,” said David Savoie, president/CEO of the $137 million LaCorp.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.