NEW ORLEANS, April 28, 2023 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 8, 2023 to file lead plaintiff applications in securities class action lawsuits against Credit Suisse Group AG CS, if they purchased the Company’s securities between February 18, 2021 and March 20, 2023, inclusive (the “Class Period”). These actions are pending in the United States District Court for the District of New Jersey.

What You May Do

If you purchased securities of Credit Suisse and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-cs/ to learn more. If you wish to serve as a lead plaintiff in the class action, you must petition the Court by May 8, 2023.

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 disclosed 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 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 due to regulatory grounds. On this news, shares of Credit Suisse fell 13.94% to close at $2.16 per ADS.

Finally, on March 20, 2023, the Company announced a merger agreement with UBS, stating that it “represents the…