US EditionCredit Suisse Can't Shake Off Lawsuit Over $17 Billion Bond Wipeout
13 Articles
13 Articles
According to the original report, UBS will have to face two lawsuits filed by investors claiming to have been defrauded by Credit Suisse before its collapse in March 2023. UBS District Judge Colleen McMahon ruled that Core Capital Partners can sue on behalf of US buyers of AT1 (Additional Tier 1) Credit Suisse bonds. These bonds were reduced to zero by order of the Swiss regulator as part of UBS's rescue of Credit Suisse.The collective action an…
More AT1 Lawsuits Against UBS in the US
The legal battles over the AT1 bonds rendered worthless in the Credit Suisse acquisition are far from over. A court in New York has now admitted two additional lawsuits. The lawsuits, filed by US holders of Credit Suisse (CS) AT1 bonds and American Depositary Shares (ADS), target UBS and several former CS executives. A judge in New York has admitted two cases brought by U.S. investors, according to a «Reuters» report. The defendants include form…
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