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, Risk.net understands. 

The

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: