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Legalpass announced Thursday that, thanks to the high level of participation, funding for the class action lawsuit is now ahead of schedule. The cost for shareholders to participate in the “Credit US” campaign depends on the number of CS shares they own, but they must pay at least 120 francs.
Due to the “high interest” in the campaign, the company is extending the participation period, which was originally scheduled for July 20, until August 10. Legalpass co-founder Philippe Grivat said in a statement that he had received numerous inquiries requesting an extension during the summer holidays. The lawsuit is also supported by the investment foundation Ethos.
As part of the takeover by the authorities, the shareholders of the dissolved Credit Suisse received one UBS share in exchange for 22.48 Credit Suisse shares. On March 19, when the transaction was announced, this amounted to a purchase price of approximately CHF 3 billion. However, on the last trading day before the announcement, CS was valued at 7 billion, which is more than twice as high on the exchange.
(SDA)
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.
