Credit Suisse Is Sued Over Greensill Capital and Archegos
- Small pension fund claims bank misled it, pursues class action
- It’s one of the first lawsuits filed since the two collapses
This article is for subscribers only.
Credit Suisse Group AG was sued by a small pension fund that alleges the bank misled investors and let “high-risk clients” including Greensill Capital and Archegos Capital Management take on too much leverage, in one of the first lawsuits since the twin debacles.
The Michigan pension fund, City of St. Clair Shores Police & Fire Retirement System, filed the suit on Friday in federal court in Manhattan, seeking to represent all shareholders who bought Credit Suisse American depositary receipts between Oct. 29 and March 31.