LOS ANGELES, June 01, 2021 (GLOBE NEWSWIRE) – Investors with losses are encouraged to contact the company before June 15, 2021; Click on here submit business informationIn addition to this, you need to know more about it.
The Portnoy law firm informs investors that a class action lawsuit has been filed on behalf of investors in Credit Suisse Group AG (NYSE: CS) who have acquired shares between October 29, 2020 and March 31, 2021. Investors have until June 15, 2021 to seek an active role in this litigation.
Investors are encouraged to contact a lawyer Lesley F. Portnoy, to determine eligibility to participate in this action, by phone at 310-692-8883 or E-mail, or Click here join the case.
It is alleged in this complaint that Credit Suisse has issued materially false and misleading statements regarding its business indicators and financial outlook. Specifically, Credit Suisse concealed significant flaws in Credit Suisse risk policies and procedures, as well as in compliance oversight functions and efforts to allow high-risk clients to take excessive leverage. , which exposed Credit Suisse to billions of dollars in losses. As a result of Credit Suisse’s misrepresentation, their ADRs traded at artificially inflated prices, peaking at $ 14.95 per ADR in February 2021. Subsequently, Credit Suisse revealed billions of dollars in losses related to the collapse of its funds linked to Greensill, as well as the implosion of total return swap positions the company had entered into with Archegos. Serious shortcomings were exposed by these corporate scandals in Credit Suisse’s risk and compliance activities, which caused Credit Suisse’s ADR prices to drop to a low of just $ 10.60 per ADR as of March 31. 2021.
A class action has already been filed. If you wish to act as the lead applicant, you must move the court no later than June 15, 2021.
Please visit our website to view more information and submit your transaction information.
The Portnoy law firm represents investors in lawsuits arising from corporate wrongdoing. The company’s founding partner has recovered more than $ 5.5 billion for aggrieved investors. Lawyer advertising. Past results do not guarantee similar results.
Lesley F. Portnoy, Esq.
CA and NY bar admitted