Credit Suisse Investors May Stop US Case From Being Tossed (1)

Most questioning favored Credit Suisse Group AG investors at oral argument Wednesday in their appeal seeking to keep some Credit Suisse units, former leadership of the defunct bank, and auditor KPMG LLP in court in the US.

The district court’s reasoning in the first step of its decision to send the proposed class action to Switzerland was “wrong,” Judge Guido Calabresi said in the parties’ argument before the US Court of Appeals for the Second Circuit.

Even though the claims are under Swiss law, the investors have a right to their choice of forum, which is federal court in New ...