US EditionEx-Credit Suisse Executives Settle Over Risk Failures
6 Articles
6 Articles
The ex-leaders were accused of neglecting the bank's risk management, which is why the accidents with Archegos and Greensill had occurred.
Former Credit Suisse executives reach settlement in risk management lawsuit
A collective of past executives and directors from Credit Suisse Group, spearheaded by former chairman Urs Rohner, has reached an agreement to pay $115m to resolve a shareholder lawsuit. The suit accused them of inadequate risk management practices that led to financial losses during the years 2020 and 2021. The preliminary approval for the settlement was granted by a judge in New York. The funds will be directed to UBS Group, which has taken ov…
Former managers of Credit Suisse, including Chairman of the Board of Directors Urs Rohner, have made a comparison for errors in risk management. The costs are borne by the defendant's insurance companies.
In order to avoid further litigation in the US about risk management claims, several managers have agreed to payments in millions
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finews.comEx-Credit Suisse Executives Settle Over Risk Failures
Nineteen former top managers and directors of Credit Suisse, including ex-chairman Urs Rohner, have agreed to pay $115 million to settle shareholder claims that they failed to maintain adequate risk controls at the Swiss bank. The payout, which will be covered by their directors’ and officers’ insurance, is to be transferred to UBS Group, which acquired Credit Suisse in 2023, according to several media reports on Sunday. Shareholder Claims Over …
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