NEW ORLEANS–(BUSINESS WIRE)–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”) between October 29, 2020 and March 31, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
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 visit https://www.ksfcounsel.com/cases/nyse-cs/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 15, 2021.
About the Lawsuit
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.
The case is City of St. Clair Shores Police and Fire Retirement System v. Credit Suisse Group AG, 21-cv-03385.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner