NYSE:CS Long Term Investor Alert: Investigation of Potential Wrongdoing at Credit Suisse Group AG
An investigation on behalf of current long term investors in Credit Suisse Group AG (NYSE:CS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWire) -- 09/07/2022 --Certain directors of Credit Suisse Group AG are under investigation over potential breaches of fiduciary duties.
Investors who are current long term investors in Credit Suisse Group AG (NYSE: CS) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: CS stocks follows a lawsuit filed against Credit Suisse Group AG over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: CS stocks, concerns whether certain Credit Suisse Group AG directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the Defendants made false and/or misleading statements and/or failed to disclose that Credit Suisse Group AG had deficient disclosure controls and procedures and internal control over financial reporting, that Credit Suisse's practice of lending money to Russian oligarchs subject to U.S. and international sanctions created a significant risk of violating rules pertaining to those sanctions and future sanctions, that the foregoing conduct subjected the Company to an increased risk of heightened regulatory scrutiny and/or enforcement actions, that the Securitization Deal concerned loans that Credit Suisse Group AG made to Russian oligarchs previously sanctioned by the U.S., that the purpose of the Securitization Deal was to offload the risks associated with these loans and mitigate the impact on Credit Suisse of sanctions likely to be implemented by Western nations in response to Russia's invasion of Ukraine, that Credit Suisse Group AG's request that non-participating investors destroy documents related to the Securitization Deal was intended to conceal the Company's noncompliance with U.S. and international sanctions in its lending practices, that the foregoing, once revealed, was likely to subject the Company to enhanced regulatory scrutiny and significant reputational harm, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Credit Suisse Group AG (NYSE: CS) have certain options and should contact the Shareholders Foundation.
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View this press release online at: http://rwire.com/1363296