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CS.US

Investors vs. Credit Suisse Group AG Case

Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New York
Court
1:21-cv-03385-NRB
Case number
29 Oct 2020
Class period Start
31 Mar 2021
Class period End
06 Apr 2023
Claim deadline
Credit Suisse Group AG (CS) agreed to pay $32.5 million to settle a securities class action lawsuit accusing the Company of deceiving investors about defects in the Company's compliance policies.

The Complaint alleged that the Company and its Leaders issued materially false and misleading statements regarding the Company’s business metrics and financial prospects. Specifically, they concealed material defects in the Company’s risk policies and procedures and compliance oversight functions and efforts to allow high-risk clients to take on excessive leverage, including Greensill Capital and Archegos Capital Management, exposing the Company to billions of dollars in losses.

Credit Suisse Group AG (CS) agreed to settle with investors to avoid further litigation.
Alleged Offence
Other
Suspected Party
Other
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Filing date
16 April 2021
Plaintiffs
Sheet Metal Workers Pension Plan of Northern California, City of St. Clair Shores Police, Fire Retirement System
Attorneys
Robbins Geller Rudman & Dowd LLP, VanOverbeke Michaud & Timmony, P.C.
Defendants
Thomas Gottstein, David R. Mathers, Lara J. Warner, Brian Chin
Judge
Hon. Naomi Reice Buchwald
Administrator
Gilardi & Co LLC
Court hearing date
11 May 2023
Exclusion deadline
20 April 2023
Objection deadline
20 April 2023
+$32,500,000
Total Settlement Amount
Created by Stan Vick, Scout

Credit Suisse Group

Credit Suisse Group AG, together with its subsidiaries, provides various financial services in Switzerland, Europe, the Middle East, Africa, the Americas, and Asia Pacific. The company offers wealt...

    Ticker
    CS.US
    ISIN
    US2254011081
    CIK
    1159510
    Sector
    Financials
    Industry
    Banking Services
    Country
    USA
    Address
    Paradeplatz 8, Zurich, Switzerland, 8001