Credit Suisse Investors Get Class Status in Bank Rescue Suit (1)

A Credit Suisse Group AG investor won class status in a securities fraud lawsuit against its now-owner UBS Group AG over the former’s implosion and government-facilitated merge into the banking rival.

UBS must also litigate a separate proposed class action brought on behalf of those who held Credit Suisse bonds that were fully written down at the direction of the Swiss Financial Market Supervisory Authority as part of the 2023 rescue deal, Judge Colleen McMahon said in an amalgamated ruling Monday declining to dismiss the second case. But, the US District Court for the Southern District of New York judge ...