NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Credit Suisse Group AG ("Credit Suisse" or the "Company") (NYSE: CS) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Credit Suisse American Depositary Receipts ("ADRs") between October 29, 2020 and March 31, 2021, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/cs.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts. Specifically, the Company concealed material defects in its risk policies and procedures and compliance oversight functions and efforts to allow high-risk clients to take on excessive leverage, including Greensill Capital ("Greensill") and Archegos Capital Management ("Archegos"), exposing the Company to billions of dollars in losses. Subsequently, as the Company disclosed billions of dollars in losses tied to the collapse of its Greensill-linked funds and the implosion of total return swap positions it had entered into with Archegos, the price of Credit Suisse ADRs to plummeted.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/cs or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Credit Suisse you have until June 15, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.