Fresh legal claim planned by group of almost 1,000 shareholders to rushed rescue in March
UBS faces another legal challenge to its emergency takeover of Credit Suisse, as a group representing nearly 1,000 individual shareholders, including former employees of the failed Swiss bank, prepares to file a court claim in Zurich on Monday.
The Swiss Association for the Protection of Investors (Schweizerischer Anlegerschutzverein, or SASV), which represents retail investors, intends to lodge the claim on behalf of Credit Suisse shareholders – including some from the UK – who suffered heavy losses as a result of the rushed takeover in March.
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