SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Credit Suisse Group Ag of a Class Action Lawsuit and a Lead Plaintiff Deadline of June 28, 2022 - (NYSE: CS)
NEW YORK, May 4, 2022 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Credit Suisse Group Ag.
Shareholders who purchased shares of CS during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/credit-suisse-group-ag-loss-submission-form-2/?id=26682&from=4
CLASS PERIOD: March 19, 2021 to March 25, 2022
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Credit Suisse had deficient disclosure controls and procedures and internal control over financial reporting; (ii) Credit Suisse's practice of lending money to Russian oligarchs subject to U.S. and international sanctions created a significant risk of violating rules pertaining to those sanctions and future sanctions; (iii) the foregoing conduct subjected the Company to an increased risk of heightened regulatory scrutiny and/or enforcement actions; (iv) the Securitization Deal, in which Credit Suisse sold off $80 million worth of risk related to a $2 billion portfolio of loans backed by assets owned by certain of the bank's ultra-high net worth clients, concerned loans that Credit Suisse made to Russian oligarchs previously sanctioned by the U.S.; (v) the purpose of the Securitization Deal was to offload the risks associated with these loans and mitigate the impact on Credit Suisse of sanctions likely to be implemented by Western nations in response to Russia's invasion of Ukraine; (vi) Credit Suisse's request that non-participating investors destroy documents related to the Securitization Deal was intended to conceal the Company's noncompliance with U.S. and international sanctions in its lending practices; (vii) the foregoing, once revealed, was likely to subject the Company to enhanced regulatory scrutiny and significant reputational harm; and (viii) as a result, the Company's public statements were materially false and misleading at all relevant times.
DEADLINE: June 28, 2022 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/credit-suisse-group-ag-loss-submission-form-2/?id=26682&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of CS during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is June 28, 2022. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (646) 453-8903
SOURCE The Gross Law Firm
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