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(Reuters) – Ambac Assurance Corp. won a bid to reinstate a fraudulent inducement claim against a unit of Credit Suisse Securities over a 2007 mortgage-backed securities transaction Ambac insured.

Ambac sued for what it called “pervasive and material misrepresentations” in the mortgage-backed security transaction pooling over 2,000 residential mortgage loans that Credit Suisse underwrote and its affiliate, DLJ Mortgage Capital Inc, sponsored.

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