Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Credit Suisse Group AG (NYSE: CS) securities.
If you suffered a loss on your Credit Suisse investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 18 2021 - Mar 20 2023
CASE DETAILS: The filed complaint alleges that Credit Suisse Group AG made materially false and/or misleading statements and/or failed to disclose that:
(i) contrary to representations made in December 2022 by Credit Suisse’s Chairman, Axel P. Lehmann, the sharp increase in customer outflows Credit Suisse began experiencing in October 2022 remained ongoing; (ii) accordingly, Credit Suisse had downplayed the impact of the Company’s recent series of quarterly losses and risk and compliance failures on liquidity and its ability to retain client funds; (iii) as a result, Credit Suisse had overstated the Company’s financial position and/or prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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