The Popular Sport Among Bank Shareholders: Class action lawsuits against banks are currently en vogue, according to a new study. A Lausanne-based startup is preparing the first Swiss class action lawsuit against Credit… classactionlawsuit creditsuisse
According to the startup Legalpass from Western Switzerland, over a thousand shareholders have supported the class action lawsuit against Credit Suisse. The company has extended the participation deadline for its «Credit US» campaign until August 10.
Shareholders of financial institutions are particularly eager to sue. Bank investors filed more class actions in the first six months of 2023 than in all of 2022, with the number of lawsuits filed against banks trending above the historical six-month average of 15.One reason is the tremors emanating from US regional banks that led to numerous failures in the spring, helping to drive Credit Suisse into the arms of UBS.
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