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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 15, 2021 to file lead plaintiff applications in a securities class action lawsuit against Credit Suisse Group AG (NYSE:CS), if they purchased the Company’s American Depositary Receipts (“ADRs”) .
Credit Suisse and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The lawsuit alleges that during the Class Period the Company issued materially false and misleading statements regarding its business metrics and financial prospects. Specifically, the Company concealed material defects in its risk policies and procedures and compliance oversight functions and efforts to allow high-risk clients to take on excessive leverage, including Greensill Capital (“Greensill”) and Archegos Capital Management (“Archegos”), exposing the Company to billions of dollars in losses. Subsequently, as the Company disclosed billions of dollars in losses tied to the collapse of its Greensill-linked funds and the implosion of total return swap positions it had entered into with Archegos, the price of Credit Suisse ADRs to plummeted.
If you purchased ADRs of Credit Suisse and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is City of St. Clair Shores Police and Fire Retirement System v. Credit Suisse Group AG, 21-cv-03385.
Click here to read the case complaint.