NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Credit Suisse Group AG (“Credit Suisse” or the “Company”) (: CS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Credit Suisse and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 2, 2022, following large client withdrawals and significant losses, Credit Suisse’s Chairman Axel Lehmann advised investors that as of November 11, 2022, customer outflows had “basically stopped”. Then, on February 9, 2023, Credit Suisse reported its annual financial results and admitted to large customer outflows through year-end 2022.
On this news, Credit Suisse’s stock price fell $0.56 per share, or 15.64%, to close at $3.02 per share on February 9, 2023.
Then, on February 21, 2023, Reuters reported that Switzerland’s financial regulator was reviewing Chairman Lehmann’s previous comments about outflows.
On this news, Credit Suisse’s stock price fell another $0.10 per share, or 3.31%, to close at $2.92 per share on February 21, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
