| COMPANY |
Credit Suisse Group AG |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
23-cv-01297 |
| JUDGE |
The Honorable Naomi Reice Buchwald |
| CLASS PERIOD |
February 18, 2021 and March 20, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Credit Suisse Group AG (“Credit Suisse”) (NYSE: CS) securities between February 18, 2021 and March 20, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) contrary to Defendant Lehmann's representations in December 2022, the sharp increase in customer outflows Credit Suisse began experiencing in October 2022 remained ongoing; (2) accordingly, Credit Suisse had downplayed the impact of its recent series of quarterly losses and risk and compliance failures on liquidity and its ability to retain client funds; (3) as a result, Credit Suisse had overstated its financial position and/or prospects; and (4) as a result, the company's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On September 26, 2023, Lead Plaintiff filed an Amended Complaint. The Court dismissed Counts II and III of Plaintiffs' Amended Complaint with prejudice against all Defendants and closed the case. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.