
Court Rejects Credit Suisse Shareholder Compensation Claim
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Keine Entschädigung für Aktionäre der Credit Suisse
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Read more: Keine Entschädigung für Aktionäre der Credit Suiss
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Before the collapse of Credit Suisse, the couple had bought 38,000 shares in the bank, relying on the reassuring words of the Federal Council a few days earlier.
Following the public hearing, the Federal Court announced the judgement orally on Friday afternoon. The presiding judge made it clear that the decision only applied to this one case.
+ Where did it all go wrong for Credit Suisse?
The couple had claimed compensation of CHF54,601 plus interest from the Confederation for the loss in value of their Credit Suisse shares. On 10, 13 and 15 March 2023, the plaintiffs had purchased a total of 38,000 securities worth CHF84,636.
They claimed that they had invested after the Federal Council claimed at the beginning of March that the bank was well capitalised.
The day after the takeover of Credit Suisse by UBS was announced on 19 March, the two investors sold their shares for CHF30,187. From their point of view, the Confederation is responsible for the loss they suffered in this transaction.
More More Swiss regulator seeks to block investors from accessing Credit Suisse AT1 filesThis content was published on Apr 4, 2024 Move comes as authorities face $9 billion in legal claims over rescue of failed bank.
Read more: Swiss regulator seeks to block investors from accessing Credit Suisse AT1 file
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