NEW YORK, Oct. 26, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors Credit Suisse Group AG (“Credit Suisse” or the “Company”) (NYSE: CS). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Credit Suisse and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 19, 2018, the U.S. Department of Justice filed a four-count indictment under seal in the Eastern District of New York against Credit Suisse’s U.K. unit Credit Suisse Securities (Europe) in connection with an $850 million fraudulent loan to a Mozambique state-owned entity, alleging conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to violate the anti-bribery and internal controls provisions of the FCPA, and (conspiracy to commit money laundering. Then, on October 19, 2021, Credit Suisse’s U.K. unit pled guilty to wire fraud and agreed to pay $475 million to U.S. and U.K. authorities for its role in a $2 billion corruption scandal in Mozambique to settle a probe into tainted bonds for development projects. On this news, Credit Suisse’s stock price fell $0.14 per share, or 1.32%, to close at $10.46 per share on October 20, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP