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Credit Suisse Group AG: Class Action

Credit Suisse Group AG

Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Credit Suisse Group AG (NYSE:CS) in connection to alleged violations of securities laws by CS. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Credit Suisse Group AG from March 20, 2015 until February 3, 2016.

The class action complaint specifically alleges that during the period in question, CS might have provided false and/or misleading material information, and/or failed to disclose adverse material information, chiefly: that the company regularly ignored its risk procedures and control systems; that the company was contravening these protocols by gathering billions of dollars’ worth of high-risk and illiquid securities; and that consequently the company’s statements to the public during the relevant period about operations and business were false and misleading. The complaint alleges that when true facts emerged, investors in CS suffered losses.

According to the company’s website, Credit Suisse Group AG is an international wealth management company. It “seek[s] to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets.” It was founded in 1856 and today runs global operations in approximately 50 nations with 46,260 employees. The company has three “regionally focused divisions”: Swiss Universal Bank, Asia Pacific, and International Wealth Management. These divisions are supported by two investment banking-focused divisions, International Banking & Capital Markets and Global Markets. The company trades on the New York Stock Exchange under the symbol CS.

A class action lawsuit has already been filed in connection with Credit Suisse Group AG. If you wish to serve as lead plaintiff in the CS lawsuit, you must move the Court no later than February 20, 2018. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.

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