NEW YORK, Feb. 24, 2023 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Credit Suisse Group AG. (NYSE: CS) resulting from allegations that Credit Suisse may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Credit Suisse securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=12359 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On February 9, 2023, Credit Suisse reported that clients had withdrawn over $119.6 billion in the last three months of 2022, exceeding market expectations. On this news, the price of Credit Suisse ADR’s fell over 15.6%. On February 21, 2023, Reuters published an article entitled “Exclusive: Credit Suisse chairman’s comments draw scrutiny from financial watchdog- sources.” The article stated that the Swiss financial regulator was probing “the extent to which Credit Suisse’s Chairman, and other Credit Suisse representatives were still withdrawing funds when he said in media interviews that outflows had stopped.” In early December, 2022, Credit Suisse’s Chairman, Axel Lehmann, had said in media interviews that outflows had “completely flattened out”, “partially reversed,” and “basically stopped.”
On this news, the price of Credit Suisse ADR’s fell as much as 4% in intra-day trading before closing down 3.3% at $2.92 on February 21, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, P.A.