NEW YORK, May 18, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Credit Suisse Group AG ("Credit Suisse" or the "Company") (CS) - Get Credit Suisse Group AG Sponsored ADR Report. Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org 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 March 29, 2021, Credit Suisse disclosed that it anticipated significant losses in connection with positions linked to Archegos Capital Management ("Archegos") after Archegos failed to meet margin calls the prior week, forcing the liquidation of more than $20 billion in holdings. That same day, Bloomberg reported that "[m]uch of the leverage used by [Archegos] was provided by banks including Nomura Holdings Inc. and Credit Suisse Group AG through swaps and so-called contracts for difference[.]"
On this news, Credit Suisse's stock price fell $1.48 per share, or 11.5%, to close at $11.39 per share on March 29, 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
CONTACT: Robert S. WilloughbyPomerantz LLP email@example.com ext. 7980
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SOURCE Pomerantz LLP