Tags: credit | suisse | claims | securities | class

Credit Suisse: Claims on Securities Class Case 'Unfounded'

Credit Suisse: Claims on Securities Class Case 'Unfounded'
(Mohamed Ahmed Soliman | Dreamstime)

Sunday, 11 February 2018 11:42 AM

Claims that Credit Suisse Group AG failed to disclose material information with regard to U.S. securities acquired by investors in 2015 and 2016 are “unfounded and without merit,” the Swiss bank said.

Credit Suisse and some of its executives are accused of making alleged false and misleading statements and of failure to disclose material information, according to a statement from a U.S. legal firm filed late Feb. 9. Lawyers are making efforts to obtain class status for the lawsuit, and the court hasn’t yet made a decision on whether to grant it or not.

The Zurich-based bank had analyzed the allegations and responded to information requests from supervisory bodies during the last three years, Credit Suisse said in an emailed statement Sunday.

“All regulatory reviews were closed without any action against Credit Suisse,” it said.

Action on the lawsuit is pending in the U.S. District Court for the Southern District of New York, according to the Feb. 9 filing.

© Copyright 2018 Bloomberg News. All rights reserved.

   
1Like our page
2Share
StreetTalk
Claims that Credit Suisse Group AG failed to disclose material information with regard to U.S. securities acquired by investors in 2015 and 2016 are “unfounded and without merit,” the Swiss bank said.
credit, suisse, claims, securities, class
159
2018-42-11
Sunday, 11 February 2018 11:42 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved