Credit Suisse AG said it will seek to appeal the Texas Court of Appeals decision in the Credit Suisse vs Highland Capital, NexPoint Funds case.
The company said in a statement that “Credit Suisse respectfully disagrees with the decision of the Texas Court of Appeals, does not believe the decision is supported by applicable law, and accordingly intends to seek appeal.
This is a legacy matter dating back to 2007. Given the number of favourable verdicts in Credit Suisse vs Highland Capital cases to date, we look forward to the outcome of the appeal process which will take nine to twelve months.
There is no payment due to Highland Capital until ultimate resolution through the courts.”