This lawsuit is for anyone who acquired securities in Credit Suisse Group AG (NYSE: CS) from March 10, 2022 through March 15, 2023.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the customer outflows Credit Suisse began experiencing in October 2022 had stopped when, in fact, they had not.
On February 9, 2023, Credit Suisse released its 2022 financial results, reporting customer outflows of 110.5 billion Swiss francs in the final three months of 2022. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume. Then, on March 9, 2023, the Company issued an ad hoc announcement stating it would delay the publication of its 2022 Annual Report and related Annual Report after a call on March 8, 2023, from the SEC regarding the Company's cash flow statements in the years ended December 31, 2020, and 2019, as well as related controls. On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume. Finally, on March 14, 2023, the Company filed with the SEC its 2022 annual report which identified material weaknesses in the Company's internal controls. On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Credit Suisse Group AG (NYSE: CS) from March 10, 2022 through March 15, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
First Name: *
Last Name: *
If Representing an Institution, Name of Institution:
If Representing an Institution, Position at Institution:
Mailing Address: *
Phone #: *
I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.