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350 people are involved in the “Credit US” class action lawsuit in Switzerland. And now it’s time: the funding threshold has been crossed and lawsuits can be filed. This is the first class action lawsuit in Switzerland for CS shareholders. The responsible company announced this on Thursday.
It was launched on 15 June by Lausanne-based new company Legalpass. The founders and lawyers Philippe Grivat and Alexandre Osti are responsible for the class action lawsuit. You worked for months, you made hundreds of calls.
“We are proud of the class action we brought on behalf of Credit Suisse shareholders. In doing so, we are giving a voice to people who would otherwise never have the opportunity to access justice,” says Grivat. “Credit Suisse’s shareholders were not heard at the General Assembly, but we will give them a voice in court,” says co-founder Osti.
Class action is based on the Unification Act. This brings a lawsuit to “examine the exchange rate” so that shareholders can claim “appropriate compensation” for their shares, according to an earlier announcement. Thanks to the peculiarities of the procedure in the Credit Suisse case, it is possible to initiate a kind of “class action”.
You can participate in the case until July 20. For this, the number of shares owned as of March 19 must be specified. Individual plaintiffs must also pay at least 120 francs. It’s hard to predict whether the lawsuit will be successful – after all, the CS lawsuit has no precedent.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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