After a two-and-a-half-week trial, Austin attorneys Bill Reid and Lisa Tsai recently convinced a Dallas County jury that Credit Suisse defrauded their hedge fund client by overinflating the value of a Nevada resort as part of a 2007 loan refinancing transaction—a verdict that netted their client $40 million in damages.
In 2013, their client, Claymore Holdings—which is affiliated with Dallas-based Highland Capital—sued the investment bank in Dallas’ 134th District Court, alleging that they overinflated the value of the resort as part of the hedge fund’s investment in a $540 million loan refinance.
