CS LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving Credit Suisse Group Ag

New York, New York--(Newsfile Corp. - May 5, 2022) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Credit Suisse Group Ag ("Credit Suisse Group Ag") (NYSE: CS) between March 19, 2021 and March 25, 2022.

If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/credit-suisse-group-ag-loss-submission-form-2?prid=26885&wire=5

Allegations against CS include that the Company made 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.

If you suffered a loss in Credit Suisse Group Ag you have until June 28, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123039