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Credit Suisse Loses Lawsuit Filed by Wealthy Kuwaiti Investors

  • Family worth half a billion dollars lost $29 million in 2008
  • Judge says it wasn’t unreasonable to pull out of investments
Pedestrians pass by the front of the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Thursday, Nov. 2, 2017. 
Photographer: Michele Limina/Bloomberg

A wealthy Kuwaiti family won a London lawsuit against Credit Suisse Group AG after losing $29 million investing with the bank during the 2008 financial crisis.

Mahmoud Haji Haider Abdullah and his sons, Maytham, Mahdi, and Mansour, had lost $29 million at the end of October 2008, Judge Andrew Baker said Monday, without ruling on how much money they can recover. Filings in the case say the family is worth at least half a billion dollars.