Reported about 13 hours ago
A U.S. judge has ruled that UBS must confront two lawsuits filed by investors claiming they were defrauded by Credit Suisse before its collapse in March 2023, with misleading information about its financial health. The judge allowed Core Capital Partners to sue on behalf of U.S. buyers of Credit Suisse's Additional Tier 1 bonds, which were wiped out during UBS' rescue of the bank. Other investors pursuing a separate class action lawsuit will also proceed, as allegations of fraud potentially played a role in the collapse of these bonds.
Source: YAHOO