Reuters - Judge rejects C Suisse’s bid to dismiss a lawsuit

Tidjane Thiam

A U.S. judge has rejected Credit Suisse’s bid to dismiss a lawsuit accusing the Swiss bank of defrauding shareholders about its risk appetite and risk management before taking $1 billion of writedowns on souring debt.

Reuters reports that the decision by U.S. District Judge Lorna Schofield in Manhattan was made public on Wednesday.

Schofield said investors who lost money in Credit Suisse’s American depositary receipts could pursue claims that the bank, CEO Tidjane Thiam and other defendants intended to mislead them, by touting its “comprehensive” risk controls and “binding” limits on its exposure to risky and illiquid debt.

Hit the link below to access the complete Reuters article:

Credit Suisse loses bid to dismiss lawsuit in U.S. over writedowns

Barclays buoyed in activist battle by investment banking gains



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