Big Troubled Bank – Credit Suisse Before Settling US Shareholders

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.

Posted today at 09:37

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.

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Nancy Stevens

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