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Friday, August 07, 2009 5:06:37 PM
Credit Suisse managed about $6 billion in volume in Citigroup CDO deals, or about 50 percent of that business at Credit Suisse, Ambac said in the complaint. Credit Suisse "allowed Citigroup to hijack the portfolio for the purpose of dumping leftovers from Citigroup's prior CDO and residential mortgage backed securities offerings that it had been unable to sell," Ambac said. (Reporting by Karen Brettell; Editing by Padraic Cassidy) Keywords: AMBAC LAWSUIT/CITIGROUP (karen.brettell@thomsonreuters.com; +1 646 223 6274; Reuters Messaging: karen.brettell.reuters.com@reuters.net ) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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