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Join the Securities Litigation and Enforcement Group on LinkedInPension funds’ lawsuit against Credit Suisse ADRs allowed to proceed – Pensions & Investments
The complaint alleges that Credit Suisse misrepresented its trading and risk-limit controls and that they were increased to allow it to accumulate nearly $3 billion in distressed debt and U.S. collateralized loan obligations that later proved to be difficult to liquidate. A subsequent disclosure by Credit Suisse of a $633 million write-down related to the […]
Australia’s ANZ Banking Group Labels US Class Action Against it “Strange” and “Without Foundation”
Australia-based ANZ Banking Group Ltd said Tuesday that a class action filed against it by US law firm Vianale & Vianale in the SDNY over certain disclosures is “starnge” and “without foundation,” The Age reports. The lawsuit was filed on Monday alleging that ANZ violated US securities laws by failing to adequately disclose the range […]
SDNY Certifies, Narrows Class in Alstom Securities Class Action
In an order dated Aug. 27, U.S. District Judge Victor Marrero of the SDNY granted class certification in the securities class action lawsuit against Alstom SA (ALO) and its U.S. subsidiaries over alleged accounting improprieties. The class is defined as shareholders who purchased the company’s ADRs between Aug. 3, 1999, and Aug. 6, 2003. According […]