Crisis-hit lender Credit Suisse has been hit with a lawsuit by US investors alleging it overstated its financial prospects to shareholders.
The suit was filed by the Rosen Law Firm, which specialises in representing individual shareholders, and claims the bank made “materially false and misleading statements” in its 2021 annual report.
Credit Suisse was offered a $54bn loan by Switzerland’s central bank after a share price slump prompted by a disclosure that it had “material weaknesses” in its reporting and controls procedures when it published its delayed 2022 annual report and a key investor declined to buy more stock.
Reporting by Frank Prenesti for Sharecast.com
