NEW YORK–(BUSINESS WIRE)–#CreditSuisse–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Credit Suisse Group AG (NYSE: CS) on behalf of Credit Suisse stockholders. Our investigation concerns whether Credit Suisse has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 4, 2021, the Wall Street Journal published an article entitled “Long Before Greensill Imploded, Credit Suisse Saw Danger”. Citing “people familiar with the funds”, the article reported that “Credit Suisse Group AG knew since 2019 that supply-chain finance funds it ran with Greensill Capital were too reliant on a small group of insurers to protect investors against default and failed to remedy the situation”. The article further reported that the reliance “turned out to be a ticking time bomb, and when the insurers balked at renewing contracts on [March 1, 2021], Greensill began its swift implosion. . . . Without insurance in place, Credit Suisse suspended the $10 billion supply-chain finance funds . . . draining a key source of funding for Greensill.”
On this news, Credit Suisse’s stock price fell $0.20 per share, or 1.42%, to close at $13.86 per share on March 4, 2021.
If you purchased or otherwise acquired Credit Suisse shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.