NEW YORK (TheStreet) -- Shares of Credit Suisse Group (CS) are down -2.35% to $31.10 after the Justice Department said today it's pursuing criminal investigations of financial institutions that could result in action in the coming weeks and months, Reuters reports.
U.S. Attorney General Holder said in a video on a Justice Department website that no company was "too big to jail."
The comments came as federal prosecutors push two banks, Credit Suisse and BNP Paribas SA (BNPQY) to plead guilty to criminal charges to resolve investigations into sanctions and tax violations, respectively, sources told Reuters.
TheStreet Ratings team rates CREDIT SUISSE GROUP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CREDIT SUISSE GROUP (CS) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins, increase in stock price during the past year and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and weak operating cash flow."