Credit Suisse First Boston Corporation ("Credit Suisse" or the Company) operates as a financial services company. The Company operates in three segments: Investment Banking, Private Banking, and Asset Management.

The original Complaint alleges that the Defendants violated section 10(b) of the Securities Exchange Act, and Rule 10b-5 promulgated thereunder, by issuing favorable research reports on Agilent that were materially false or misleading by failing to disclose conflicts of interest of Credit Suisse, and in particular the practice of Credit Suisse to gain lucrative investment banking business in part by providing coverage and issuing favorable research reports on prospective investment banking customers. According to news reports, an investigation conducted by the Secretary of the Commonwealth of Massachusetts uncovered "very troubling" internal Credit Suisse materials that "suggest . . . a pattern of breach of fiduciary duty" and which appear to have "treated investors like suckers". One internal Credit Suisse document discusses the "Agilent two-step", in which Credit Suisse issued favorable reports on Agilent to the investing public, while simultaneously informing favored customers verbally that Credit Suisse's true opinion of Agilent was less favorable. The Secretary of the Commonwealth has suggested that criminal charges be filed against Credit Suisse and on October 21st, the Secretary filed civil fraud charges against Credit Suisse.

Several similar purported class action Complaints have also been filed in the U.S. District Court of the District of Massachusetts.

On August 19, 2003, the Court entered the Stipulation and Order transferring the New York Action to the District of Massachusetts. According to the Order, the Clerk of the Court for the SDNY shall transfer the complete files in each of the cases consolidated as In re Credit Suisse First Boston Corp. Agilent Technologies, Inc. Analyst Reports Securities Litigation, 02-CV-8676 (SDNY) (RCC) to the USDC for the District of Massachusetts.

On August 25, 2003, a Consolidated Amended Class Action Complaint was filed, and the Defendants responded by filing motions to dismiss the Consolidated Amended Class Action Complaint. On April 1, 2005, the Court entered the Memorandum and Order by U.S. District Judge George A. O'Toole Jr. granting the motions to dismiss the Consolidated Amended Class Action Complaint with prejudice. The Plaintiff then filed a Notice of Appeal.

On January 13, 2006, the Court entered the Mandate from the U.S. Court of Appeals for the First Circuit. The District Court's judgment is affirmed.