id: 447, Created by Stan Vick, Scout
Investors vs. Credit Suisse Group AG Case
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- Company agreed to pay compensation to its investors, to avoid further litigation
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Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New YorkCourt
29 Oct 2020Class period Start
31 Mar 2021Class period End
06 Apr 2023Claim 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.
Depository Securities (ADS, ADR, GDR)
16 April 2021
Sheet Metal Workers Pension Plan of Northern California, City of St. Clair Shores Police, Fire Retirement System
Robbins Geller Rudman & Dowd LLP, VanOverbeke Michaud & Timmony, P.C.
Thomas Gottstein, David R. Mathers, Lara J. Warner, Brian Chin
Hon. Naomi Reice Buchwald
Gilardi & Co LLC
Court hearing date
11 May 2023
20 April 2023
20 April 2023
+$32,500,000Total Settlement Amount