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Credit Suisse Plea Has Unclear Impact as Shares Rise

The Justice Department didn’t blink in its pursuit of a guilty plea from Credit Suisse AG for helping thousands of Americans evade taxes. What prosecutors accomplished with the criminal conviction -- the first of a major bank in a decade -- isn’t as clear.

The punishment, announced yesterday in federal court, was intended to send a strong message to other banks and quell public criticism since the 2008 financial crisis that prosecutors have been soft on financial institutions. Investors, however, were undaunted. Credit Suisse rose the most in six months, gaining as much as 3 percent, in Zurich trading.