Credit Suisse Investor’s Lost Pittance Thwarts Bid to Lead Suit

A Credit Suisse Group AG investor’s low financial stake in a securities case prevents him from leading a lawsuit linked to the bank’s lending to Russian oligarchs, a New York federal judge said.

Yasni Jimenez, who had about a $620 stake, “lacks a sufficient financial interest in the outcome of the case to incentivize him to monitor counsel’s performance and control the litigation on behalf of the putative class,” Magistrate Judge Roanne Mann of the US District Court of the Eastern District of New York said Monday.

A 1995 federal law, the Private Securities Litigation Reform Act (PSLRA), was intended ...