SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Credit Suisse Group AG - CS
New York, New York--(Newsfile Corp. - March 14, 2021) - Pomerantz LLP is investigating claims on behalf of investors of Credit Suisse Group AG ("Credit Suisse" or the "Company") (NYSE: CS). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Credit Suisse and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 4, 2021, the Wall Street Journal published an article entitled "Long Before Greensill Imploded, Credit Suisse Saw Danger". Citing "people familiar with the funds", the article reported that "Credit Suisse Group AG knew since 2019 that supply-chain finance funds it ran with Greensill Capital were too reliant on a small group of insurers to protect investors against default and failed to remedy the situation". The article further reported that the reliance "turned out to be a ticking time bomb, and when the insurers balked at renewing contracts on [March 1, 2021], Greensill began its swift implosion. . . . Without insurance in place, Credit Suisse suspended the $10 billion supply-chain finance funds . . . draining a key source of funding for Greensill."
On this news, Credit Suisse's stock price fell $0.20 per share, or 1.42%, to close at $13.86 per share on March 4, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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