Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Credit Suisse Group AG
RADNOR, Pa., April 24, 2021 (GLOBE NEWSWIRE) – Law firm Kessler Topaz Meltzer & Check, LLP announces that a class action lawsuit has been filed against Credit Suisse Group AG in the U.S. District Court for the southern borough of New York (NYSE: CS) (“Credit Suisse”) on behalf of those who have purchased or acquired Credit Suisse American Depositary Receipts (“ADRs”) between October 29, 2020 and March 31, 2021including (the “Class Period”).
Credit Suisse is a global financial services company based in Zurich, Switzerland. Greensill Capital (“Greensill”), which filed for bankruptcy protection on March 8, 2021, was a financial services company based in the United Kingdom and Australia that focused on the provision of supply chain finance and related services. Archegos Capital Management (“Archegos”) is a family office mutual fund operated by Sung Kook Hwang. Archegos’ investment holdings consist primarily of total return swaps, a financial instrument where the underlying securities are held by the banks that broker the investments.
The complaint alleges that throughout the class period, Defendants had material shortcomings in Credit Suisse’s risk policies and procedures, as well as in its compliance monitoring functions and efforts to allow excessive leverage for high risk clients, including Greensill and Archegos, have been silent about exposing Credit Suisse to billions of dollars in risk in losses.
Credit Suisse investors can no later than June 15, 2021, attempt to be appointed as the class lead plaintiff by Kessler Topaz Meltzer & Check, LLP, or other attorney, or choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the dispute. To be named lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members and that the class member is adequately representing the class. Your ability to get involved in a recovery will not be affected by whether or not you will be the lead plaintiff.
Kessler Topaz Meltzer & Check, LLP, pursues class actions in state and federal courts across the country involving securities fraud, fiduciary violations, and other violations of federal and state law. Kessler Topaz Meltzer & Check, LLP, is a driving force behind corporate governance reform and has reclaimed billions of dollars on behalf of institutional and individual investors from the US and around the world. The company represents investors, consumers and whistleblowers (individuals who report fraudulent practices against the government and are involved in recovering government dollars). The complaint in this lawsuit was not filed by Kessler Topaz Meltzer & Check, LLP. For more information on Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
James Maro Jr., Esq.
Adrienne Bell, Esq.
280 Street of the King of Prussia
Radnor, PA 19087
(844) 887-9500 (toll free)