Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Credit Suisse Group AG (“Credit Suisse”) (NYSE: CS) securities between February 18, 2021 and March 20, 2023, 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:
May 29, 2024, the Court entered the Final Order of Dismissal. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.