Court allows lawsuit against Credit Suisse to proceed

Shareholder alleges board and senior execs breached fiduciary duties by failing to oversee risk

Credit Suisse Zurich offices
Credit Suisse’s Zurich offices
Photo: Credit Suisse

Credit Suisse must answer shareholder accusations that its board and senior executives breached their fiduciary duties by failing to establish appropriate risk management frameworks for its prime services division, which lost $5.5 billion from the collapse of Archegos Capital Management in 2021.

A New York judge last month denied a motion to dismiss a case brought by a US pension fund against Credit Suisse and 20 of its current and former board members and employees, understands. 


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