Investors vs. Credit Suisse Group AG Case

Credit Suisse Group AG (CS) agreed to pay $32.5 million to settle a securities class action lawsuit accusing the Company of deceiving investors about defects in the Company's compliance policies.

The Complaint alleged that the Company and its Leaders issued materially false and misleading statements regarding the Company’s business metrics and financial prospects. Specifically, they concealed material defects in the Company’s risk policies and procedures and compliance oversight functions and efforts to allow high-risk clients to take on excessive leverage, including Greensill Capital and Archegos Capital Management, exposing the Company to billions of dollars in losses.

Credit Suisse Group AG (CS) agreed to settle with investors to avoid further litigation.