{"id":1974939,"date":"2023-07-17T08:23:02","date_gmt":"2023-07-17T12:23:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/swiss-investor-group-lawsuit-to-seek-compensation-over-ubs-credit-suisse-deal\/"},"modified":"2023-07-17T08:24:58","modified_gmt":"2023-07-17T12:24:58","slug":"swiss-investor-group-lawsuit-to-seek-compensation-over-ubs-credit-suisse-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/swiss-investor-group-lawsuit-to-seek-compensation-over-ubs-credit-suisse-deal\/","title":{"rendered":"Swiss investors sue for compensation in UBS-Credit Suisse deal."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fswiss-investor-group-lawsuit-to-seek-compensation-over-ubs-credit-suisse-deal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1974939&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div \u2064class=\"entry-content\">\u200d \t\t\t\t\t\t\t<\/p>\n<p><h2>ZURICH (Reuters) \u2013 A \u2064Swiss investors\u2019 association plans\u200c to seek compensation\u200b for\u200d former \u200bCredit\u2064 Suisse\u2064 shareholders through \u2062a lawsuit, \u2064following the \u2063bank&#8217;s \u2064emergency takeover by\u200d UBS.<\/h2>\n<\/p>\n<p>\u2064 <\/p>\n<blockquote><p>\u201cDue to the large \u2062number \u2064of \u200cinquiries, the \u200bSwiss Association \u200cfor the\u200d Protection of\u200c Investors\u2063 (SASV)\u200c has \u2063decided \u2064to coordinate \u2062a \u2064lawsuit under Art.\u200c 105 \u200dof the \u2063Merger\u2062 Act,\u201d the group \u2062said\u2063 in a statement.<\/p><\/blockquote>\n<div\u200c id=\"div-gpt-ad-1663871513696-art-1\" \u200bstyle=\"min-width: \u200c320px; \u2064min-height: \u206350px;  \u2064text-align:\u200b center;\"> \u2064 \t<script> \u2063\u2062 \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1');\u2062 }); \u200d \t<\/script> \u2062 <\/div>\n<p> \u200b \u2064<div\u200b class=\"ad-slot__ad-label\">Advertisement<\/div>\n<p> \u200b\u2063 <\/p>\n<p> \u2062 \u200c <\/p>\n<p><h3>\u201cThe\u2062 aim is to obtain\u200d a cash\u2063 compensation payment for \u200bCredit Suisse shareholders\u2063 corresponding to the\u2063 value\u2064 between the share \u2064price\u200c set\u2064 by the merger\u200c agreement\u200b and the share price determined \u2062by the\u2063 court,\u201d<\/h3>\n<p> it\u2063 added.<\/p>\n<p> \u200b<\/p>\n<p><strong>UBS declined to comment.<\/strong><\/p>\n<p> \u200b<\/p>\n<p>Under \u200bthe deal,\u2063 sealed last\u200d month, \u200bCredit\u200b Suisse shareholders \u200bwere \u200coffered one UBS\u2062 share\u2063 for\u2064 22.48 \u2063Credit \u2064Suisse shares, valuing \u2064the \u2063stricken bank at 3\u200b billion\u200c Swiss \u200bfrancs \u200b \u2062($3.49 billion).<\/p>\n<p>\u200b <\/p>\n<p>That compared \u200bto \u200ca \u200dmarket\u200c capitalisation\u2062 of around\u200c 7\u200c billion\u200c Swiss \u2064francs \u2062on the last trading\u2062 day before\u200d the deal \u200cwas announced in March.<\/p>\n<p>A separate class \u2064action \u200dwas\u200b launched last\u200b month\u2062 by Swiss \u200dlegal \u2062start up \u200cLegalPass seeking\u200b a higher \u200cpayout\u2064 from the \u2064deal \u200cfor \u200bshareholders.<\/p>\n<p>Hundreds \u2062of claims have \u2062also\u2064 been \u2063filed by holders \u200bof Credit\u200d Suisse\u2019s \u200dAdditional \u2063Tier \u20641 bonds \u2013\u200b which\u2063 were all written\u2063 down to \u2064zero \u2063\u2013\u200b claiming\u200b compensation.<\/p>\n<p> \u200b<\/p>\n<p>A\u200c group of Credit\u2063 Suisse AT1 bondholders\u200b has \u200balso \u2062filed a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/swiss-investor-group-lawsuit-to-seek-compensation-over-ubs-credit-suisse-deal\/\" title=\"Swiss investors sue for compensation in UBS-Credit Suisse deal.\">class\u200d action \u200dsuit\u200b accusing<\/a> former executives\u2062 at\u200c the Swiss bank,\u2064 including three \u200bpast\u2064 CEOs, \u2063of \u2062being \u2062responsible\u200b for\u2062 the\u2064 bank\u2019s downfall.<\/p>\n<p>\u200b <\/p>\n<p>SASV \u200bsaid shareholders had until Aug.\u2062 4\u2064 to\u2062 contact the \u200bgroup\u200c to\u2062 join the \u200daction, \u200bwhich \u2063must be \u2064filed by\u2062 Aug. 14\u2063 under\u2063 Swiss\u200b merger \u200claw.<\/p>\n<p> \u200c<\/p>\n<p>($1 \u200c=\u2064 0.8585 Swiss francs)<\/p>\n<\/p>\n<p>\u200b <\/p>\n<p> (Reporting by \u2062Brenna \u2063Hughes \u200cNeghaiwi; \u2062Editing\u2063 by\u200b Bernadette\u200c Baum)<\/p>\n<p> \u2064<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/swiss-investor-group-lawsuit\/attachment\/file-photo-buildings-of-swiss-banks-ubs-and-credit-suisse\/\"><\/a><\/p>\n<p>\u2063  \t\t\t\u200d \t\t\t\t\t<\/p><\/div>\n<div class=\"entry-content\">\n<p>Matt Capelouto, \u2063President \u2063of \u200bDrugInducedHomicide.org, discusses \u2064how his \u2062<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chinas-xiaomi-bets-bigger-on-india-retail-stores-amid-samsung-rivalry\/\" title=\"Xiaomi expands India retail presence to outshine Samsung rivalry.\">personal tragedy\u2063 led<\/a>\u2063 to \u2062his quest to fight \u200cfor \u200da\u2062 safer\u200b future for\u2062 young\u2062 Americans.<\/p>\n<p> \u2064\t\t\t\t\t\t\t\t\t<\/p><\/div>\n<div \u200dclass=\"entry-content\">  \u200d\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>Matt Capelouto, \u200cPresident\u200b of \u2063DrugInducedHomicide.org, discusses\u200c how his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hellywood-on-hold\/\" title=\"Hollywood's Pause!\">personal tragedy led<\/a> to \u2064his quest\u2062 to fight for \u2063a\u2062 safer future \u200bfor young \u200dAmericans.<\/p>\n<p>\u200c \t\t\t\t\t\t\t\t\t<\/p><\/div>\n<div \u2062class=\"entry-content\">\u2062 \u200d \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>Alex Newman, CEO of\u200d Liberty Sentinel Media, discusses the importance of\u200c knowing who is in\u2062 our\u2062 country and\u2064 securing\u200b the border.<\/p>\n<\/p><\/div>\n<div \u2063class=\"entry-content\"> \u2064 \u2064\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>Chad \u200cPrather, Baste \u2062Records\u200b Artist,\u2063 discusses how the\u200d 65,000\u2062 actors represented\u2063 by\u200d SAG-AFTRA\u2064 have joined\u200b thousands \u2062of\u200b writers \u2064to\u2062 STRIKE!<\/p>\n<\/p><\/div>\n<div class=\"entry-content\"> \u2063\u2064 \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>By Huw\u2063 Jones \u2064LONDON \u200d(Reuters) \u2062\u2013 \u200bGlobally\u2063 agreed rules leave crypto\u200b firms \u2062with \u200cno\u200d option but \u200cto\u2062 introduce\u200b basic \u200dsafeguards \u2063to prevent\u2026\u2062 <\/p>\n<\/p><\/div>\n<div \u200dclass=\"entry-content\"> \u2063 \t\t\t\t\t\t\t\t\t\t<\/p>\n<p>OSLO (Reuters) \u2013 Facebook\u200b and Instagram \u2062owner\u2062 Meta Platforms\u2063 will\u200d be \u2063fined one\u2062 million \u2064crowns \u2063($100,000)\u200b per day \u2062over\u2064 privacy breaches unless\u2026 \u200b<\/p>\n<p>\u200d \t\t\t\t\t\t\t\t\t<\/p><\/div>\n<div \u2064class=\"entry-content\">  \u200d\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>LONDON (Reuters)\u200b \u2013 The \u200cUnited Nations Security \u200bCouncil\u2063 will \u200chold\u2063 its\u200b first formal discussion \u200don artificial intelligence (AI) this \u200bweek in New\u2026 \u200d<\/p>\n<p>\u200d \t\t\t\t\t\t\t\t\t<\/p><\/div>\n<div class=\"entry-content\"> \u200c \u2062\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>BEIJING\u2062 (Reuters) \u2013\u2064 Chinese\u2062 President Xi\u200c Jinping said\u2063 China must \u200cbuild a \u201csolid\u201d security \u2064barrier around\u200d its internet \u200dunder the supervision\u2063 of\u2026 \u200b<\/p>\n<p>\u200b \t\t\t\t\t\t\t\t\t<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A Swiss investors&#8217; group, SASV, will file a lawsuit to compensate former Credit Suisse shareholders affected by the bank&#8217;s emergency takeover by UBS. SASV&#8217;s decision to coordinate comes in response to numerous inquiries from affected individuals seeking justice.<\/p>\n","protected":false},"author":66,"featured_media":1974940,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1974939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1974939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1974939"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1974939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1974940"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1974939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1974939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1974939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}