'The resolution of the tax dispute is one of the most pressing issues currently facing Credit Suisse', Rohner said in remarks prepared for delivery at the annual shareholder meeting in Zurich Friday. 'We are doing everything we can to resolve this matter within the given framework of U.S. and Swiss law in the best possible way and in a timely manner so that we can successfully move ahead with the transformation of our bank'.
Bloomberg News reports that the U.S., which has been investigating Credit Suisse for more than three years, is pressing for a guilty plea from the parent company, a person familiar with the negotiations said this week. Such an action against Credit Suisse could alarm customers and other firms that do business with it, lawyers have said. The bank may also face a penalty of as much as $1.6bn, another person familiar with the matter said.
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