NEW YORK, Dec. 26, 2017 — Pomerantz LLP is investigating claims on behalf of investors of Credit Suisse Group A.G. (“Credit Suisse” or the “Company”) (NYSE: CS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
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 February 4, 2016, Credit Suisse announced its Fourth Quarter and Full Year 2015 financial results, which included a massive $633 million write-down from the sale of the Bank's outsized, illiquid distressed debt and CLO positions, an incredible loss that would swell to nearly $1 billion in the ensuing weeks. In the wake of Credit Suisse's revelations, the price of the Bank's ADRs declined from a close of $16.69 on February 3, 2016 to a close of $14.89 on February 4, 2016, an 11% drop that wiped out approximately $230 million in market capitalization.
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
SOURCE Pomerantz LLP
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