According to the law firm press release, Credit Suisse Group AG is a multinational financial services holding company with one of its four primary divisions focused on investment banking. The Company is based in Switzerland with its principal U.S. offices in New York, New York.

The Complaint asserts claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and risk controls.

Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Credit Suisse's risk protocols and control systems were routinely disregarded (3) the Company was accumulating billions of dollars of risky, highly illiquid securities in violation of those risk protocols; and (5) as a result of the foregoing, Defendants' statements about Credit Suisse's business, operations, and risk controls were false and misleading and/or lacked a reasonable basis.

On March 19, 2018, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an amended Complaint on April 18. Defendants filed a Motion to Dismiss the amended Complaint on July 2. On February 19, 2019, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On July 8, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on August 24. On December 16, the Court granted final approval of the Settlement and entered Final Judgment. The Court approved distribution of the net Settlement fund on June 21, 2021.

On May 31, 2022, the Court issued an Order directing Cy Pres distribution of the residual Settlement funds.