Credit Suisse before settling with US shareholders
Switzerland’s second-largest bank has settled a US shareholder lawsuit over exposure to risk. She agreed to a $32.5 million settlement.
The initial settlement was filed in US District Court in Manhattan on Friday.
Photo: ZVG
Credit Suisse is about to finalize a $32.5 million settlement in the United States. The bank has faced a lawsuit alleging that it misled its shareholders about the quality of risk management, including dealing with risky clients such as Archegos Capital Management.
On Monday, the bank confirmed a corresponding article to Reuters from the end of last week. “We are pleased to have settled this civil case,” an AWB spokeswoman said.
The initial class action settlement was filed Friday in US District Court in Manhattan, New York. However, it still requires judicial approval.
AWP
Found an error?Report now.
stock alert
From ABB to Züblin – You will receive an email as soon as a new article appears about the company of your choice.
To use this service, you must log in or register.
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”
More Stories
The BMW M3 CSL is back on the road
China Real Estate Crisis: Trading Suspension in China Evergrande Shares
The Swiss franc has its longest losing streak since 1975