|Bid||10.86 x 3000|
|Ask||10.82 x 21500|
|Day's range||10.66 - 10.85|
|52-week range||7.33 - 14.95|
|Beta (5Y monthly)||1.67|
|PE ratio (TTM)||9.42|
|Forward dividend & yield||0.31 (2.87%)|
|Ex-dividend date||03 Dec 2020|
|1y target est||10.56|
A pension fund filed a lawsuit against Credit Suisse Group AG on Friday in a U.S. court, accusing the Swiss bank of misleading investors and mismanaging risk exposure to high-risk clients, including Greensill Capital and Archegos Capital Management. The pension fund, City of St. Clair Shores Police & Fire Retirement System, based in St. Clair Shores, Michigan, filed the class action lawsuit in federal court in Manhattan, alleging violations of federal securities laws.
The suit alleges defendants issued false statements re: Credit Suisse business and prospects, resulting in its stock trading at inflated prices.
Credit Suisse faces an American-style class action lawsuit over losses suffered by investors in its funds that backed the collapsed lender Greensill. US law firm Boies Schiller Flexner is this week holding its first group meeting with investors who have been burnt by the Greensill Capital saga to discuss how to pursue litigation, insiders said. Litigation funders eager to take a slice of any payouts have also approached lawyers about backing the case, which is likely to centre around mis-marketing claims and even mismanagement. The Zurich-based bank, which Lloyds chief executive Antonio Horta-Osorio is becoming chairman of next month, tried to soothe investor concerns last week. It told them it was working closely with Greensill’s administrator Grant Thornton and plans to make claims under relevant insurance policies. The lender said it still has around $2.3bn (£1.7bn) at risk in its funds linked to Greensill, adding that it “will consider appropriate legal actions to protect fund holders’ interests”. JP Morgan analyst Kian Abouhossein said that as well as long-term questions around risk management “we see other ongoing issues” for the bank including “litigation concerns from Greensill”, which could result in billions of dollars worth of litigation charges.