NEW ORLEANS, March 28, 2023 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 8, 2023 to file lead plaintiff applications in securities class action lawsuits against Credit Suisse Group AG (NYSE: CS), if they purchased the Company’s securities between March 10, 2022 and March 20, 2023, inclusive (the “Class Period”). These actions are pending in the United States District Court for the District of New Jersey.
Credit Suisse investors should visit us at https://claimsfiler.com/cases/nyse-cs-5/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuits
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.
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.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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