Security Investigation
Credit Suisse Group AG (NYSE: CS)
44 Days left to seek lead plaintiff status.
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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 8, 2023 to file lead plaintiff applications in a securities class action lawsuit against Credit Suisse Group AG (NYSE: CS).
Credit Suisse and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 9, 2023, the Company announced its 2022 financial results, disclosing that, contrary to its prior statements, it had continued to experience large customer outflows through yearend 2022, specifically, outflows of 110.5 billion Swiss francs in the final three months of 2022, a figure which far exceeded market expectations. On this news, shares of Credit Suisse fell $0.56 per ADS, or 15.64%, to close at $3.02 per ADS on February 9, 2023. Then, on March 15, 2023, news media sources revealed that the Company’s “biggest backer,” Saudi National Bank, would not buy any more of the Company’s shares on regulatory grounds.
On this news, shares of Credit Suisse fell 13.94% to close at $2.16 per ADS.
If you purchased securities of Credit Suisse and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.
The case is Calhoun v. Credit Suisse Group AG, et al., No. 23-cv-01297.
A subsequently-filed case, Turner v. Credit Suisse Group AG, et al., No. 23-cv-01476, expanded the class period.