Lawsuit Deadline Notice: Investors with who lost money with Credit Suisse Group AG (NYSE: CS) shares should contact the Shareholders Foundation
SAN DIEGO, CA / ACCESSWIRE / May 8, 2023 / The Shareholders Foundation, Inc. announces that a deadline is coming up in the lawsuit that was filed for certain investors in shares of Credit Suisse Group AG (NYSE:CS).
Investors who lost money with shares of Credit Suisse Group AG (NYSE: CS) have certain options and there are short and strict deadlines running. Deadline: May 8, 2023. Credit Suisse Group AG (NYSE: CS) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
In October 2022, Credit Suisse began experiencing a sharp increase in customer outflows, or withdrawals of client funds, after a series of quarterly losses and risk and compliance failures significantly decreased the Company's American Depositary Share ("ADS") price.
On December 1, 2022, Credit Suisse's Chairman stated in an interview with Financial Times that customer outflows had not only "completely flattened out," but had, in fact, "partially reversed." The following day, in an interview, Credit Suisse's Chairman reiterated his previous statements, reassuring investors that as of November 11, 2022, customer outflows had "basically stopped".
Then, on February 9, 2023, Credit Suisse announced its 2022 financial results, which revealed that large customer outflows had continued through year-end 2022.
On March 8, 2023, an investor filed a lawsuit against Credit Suisse Group AG over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that contrary to the representations made by the Credit Suisse's Chairman in December 2022, the sharp increase in customer outflows Credit Suisse began experiencing in October 2022 remained ongoing, that accordingly, Credit Suisse had downplayed the impact of the Company's recent series of quarterly losses and risk and compliance failures on liquidity and its ability to retain client funds, that as a result, Credit Suisse had overstated the Company's financial position and/or prospects, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased Credit Suisse Group AG (NYSE: CS) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
View source version on accesswire.com:
https://www.accesswire.com/753403/Lawsuit-Deadline-Notice-Investors-with-who-lost-money-with-Credit-Suisse-Group-AG-NYSE-CS-shares-should-contact-the-Shareholders-Foundation
