Radnor, Pennsylvania May 28, 2021 / PRNewswire / –Kessler Topaz Meltzer & Check, investors in law firm LLP have filed a class action lawsuit against Credit Suisse Group AG (NYSE: CS) (“Credit Suisse”). Reminds me. Or acquired Credit Suisse American Depositary Receipts (“ADR”) Between October 29, 2020 And March 31, 2021, Full (“class period”).
Deadline reminder for investors: investors who have bought or acquired Credit Suisse ADRs During the class Later June 15, 2021Demands that he be appointed as representative of the group’s complainants. Please contact Kessler Topaz Meltzer & Check, LLP for more information or to find out how to participate in this process. James Malo, Esq. (484) 270-1453 or Adrian Bell, Esq. (484) 270-1435; Toll free number (844) 887-9500 By email [email protected]; Or Click on https://www.ktmc.com/credit-suisse-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=credit_suisse
Credit Suisse is a global financial services company. Zurich, Switzerland. Greensill Capital (“Greensill”) has filed for bankruptcy protection March 8, 2021Was a financial services company based in. England And Australia The focus is on the provision of supply chain loans and related services. Archegos Capital Management (“Archegos”) is a family office investment fund operated by: Song Guk FanThe holdings of Archegos are mainly in the form of total return swaps. It is a financial product in which the underlying securities are held by the bank that negotiates the investment.
at March 1, 2021, Credit Suisse freezes 10 billion dollars A fund owned by a supply chain investment fund that is invested in the financial products of Greensill.on March 8, 2021, Greensill filed for bankruptcy protection because she determined she was insolvent. $ 140 million Loans to Credit Suisse by Financial TimesOver 1,000 Greensill Fund investors in the market were unable to close their positions. March 10, 2021According to media reports, Greensil’s investors would hire a lawyer and sue Credit Suisse for the loss. Renew the insurance. As the market digests this news, the Credit Suisse ADR market price $ 14.70 For each ADR March 1, 2021 Close with $ 12.85 For each ADR March 12, 2021, A drop of almost 13%.
Then Friday March 26, 2021, Morgan Stanley, Goldman Sachs, UBS and some of the major banks offering blue chip brokerage services to Arquegos traded at Arquegos at incendiary selling prices after Arquegos failed to reach its margin. by the time Credit Suisse attempted to liquidate the stocks underlying the Arquegos swap deal the following weekend, prices had already fallen and Credit Suisse quickly lost billions of dollars. Switzerland announces press release March 29, 2021 “The loss resulting from this exit is very significant and may be significant for our first quarter results,” he admitted. Financial Times Then the estimated loss of Credit Suisse $ 3 billion And $ 5 billion, Credit Suisse’s net profit for over a year. The Wall Street Journal Report to March 31, 2021 Credit Suisse “had a core capital cushion of 12.9% at the end of the year,” he said.[i]f Archegos strikes $ 4 billionCredit Suisse’s ADR price fell another nearly 20% in response to the news, down from the 2018 closing price. $ 13.21 For each ADR March 25, 2021 Close with $ 10.60 For each ADR March 31, 2021..
According to the complaint, defendants criticize Credit Suisse’s risk policies and procedures, compliance oversight capabilities and efforts to allow high-risk clients, including Greensill and Arquegos, to exert undue influence during the litigation. collective. He claims to have hidden his flaws and put Credit Suisse at risk of billions of dollars. Loss of dollars.
Swiss credit Investors Later June 15, 2021Through Kessler Topaz Meltzer & Check, LLP or other attorneys, you can apply to be appointed as the lead representative of the Class Complainants, or you may choose to do nothing and stay away from the Class. The lead applicant is the representative who acts on behalf of all class members in the conduct of the proceedings. In order to be named the principal plaintiff, the court must determine that the claims of the class members are typical of the claims of the other class members and that the class members correctly represent the class. It does not become. Your ability to share the recovery is not affected by the decision to become the principal applicant.
Kessler Topaz Meltzer & Check, LLP has filed class actions in state and federal courts nationwide, including securities fraud, breach of fiduciary duty, and other violations of federal and state laws . Kessler Topaz Meltzer & Check, LLP is the driving force behind corporate governance reform, raising billions of dollars on behalf of institutional and individual investors. United States And all over the world. The company represents investors, consumers and whistleblowers (ordinary citizens who report fraud against the government and participate in the recovery of the government dollar). The proceedings in this proceeding were not filed by Kessler Topaz Meltzer & Check, LLP. Learn more about Kessler Topaz Meltzer & Check, LLP. www.ktmc.com..
Kessler Topaz Melzer & Check, LLP
James Maro Jr., Esq.
Adrian Bell, Esq.
280 route du Roi de Prussia
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)
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Kessler Topaz Meltzer & Check, LLP: Alerting Investors to Securities Fraud Class Actions Filed Against Credit Suisse Group AG | Around the Web-Pennsylvania
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