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5/21, 7:11 PM (Source: TeleTrader)
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Investors sue Credit Suisse over Archegos, Greensill

Credit Suisse Group AG's investors filed a class-action lawsuit against the banking giant over its dealings with the Archegos and Greensill scandals, the Law Offices of Frank R. Cruz announced on Friday.

Investors who bought or otherwise acquired Credit Suisse Group AG American Depositary Receipts between October 29 2020 and March 31 2021 are covered by the class action. The lawsuit states that Credit Suisse allegedly made false statements and failed to communicate adverse facts about the company's dealings to its investors. Investors can join the lawsuit by June 15.

The company was involved in two scandals this year. It lost over $5 billion following the Archegos Capital Management scandal, and suspended supply chain financing (SCF) funds connected to the British company Greensill Capital before its filing for insolvency.

Breaking the News / MJ