Investors sue Swiss financial regulators over Credit Suisse takeover by UBS

Credit Suisse, one of the largest banks in Switzerland, is facing multiple lawsuits from its investors after they suffered significant losses. The investors attribute their losses to risky investments, particularly in Greensill Capital and Archegos Capital Management. Credit Suisse’s handling of these investments is now under scrutiny as investors seek compensation for their financial losses. This article delves into the details of the lawsuits and the reasons behind them.


A lawsuit has been filed by a group of Credit Suisse investors against Swiss financial regulators over their decision to carry out a government-orchestrated takeover of the bank by rival UBS, which resulted in billions of losses. The investors are opposing an order by the Swiss Financial Market Supervisory Authority (Finma) that eliminated nearly £13.9bn ($16bn) of the bank’s higher-risk bonds as an emergency response. The move prevented the collapse of Switzerland’s second-largest bank. Law firm Quinn Emanuel Urquhart & Sullivan filed the complaint on behalf of the investors holding over £4bn ($4.5bn) of Credit Suisse’s higher-risk bonds. Swiss regulators have defended their decision to wipe out bondholders but declined to comment on the lawsuit.


In conclusion, the Credit Suisse scandal has left investors in a state of turmoil after facing billions in losses. The bank’s risky investments and lack of oversight have resulted in a major breach of trust, and now investors are taking legal action. As the case develops, many questions remain unanswered, and it remains to be seen whether Credit Suisse will be held fully accountable for their actions. What is clear is that the fallout from this scandal will be felt for years to come, and serves as a stark reminder of the importance of rigorous oversight and transparency in the banking industry.