Case Page

 

Case Status:    ONGOING    
On or around 06/21/2018 (Ongoing date of last review)

Filing Date: March 14, 2018

Plaintiff's law firm issued a press release on March 14, 2018, announcing the lawsuit. The Complaint alleges that (i) Credit Suisse was actively manipulating the Inverse VIX Short ETNs by liquidating its holdings in various financial products to avoid a loss; (ii) Credit Suisse was manipulating the Inverse VIX Short ETNs to the detriment of investors; and (iii) as a result of the foregoing, Defendants’ statements about Credit Suisse’s Inverse VIX Short ETNs were false and misleading and/or lacked a reasonable basis.

On February 5, 2018, at the close of the market, Inverse VIX Short ETNs closed at $99. By 6:28pm, however, the price per Inverse VIX Short ETN had declined to a low of $10.16, a drop of approximately 89.74 percent.

On March 23, 2018, Plaintiff filed an amended Complaint. On June 21, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: Switzerland

SECURITIES INFORMATION:

Ticker Symbol: XIV
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 18-CV-02268
JUDGE: Hon. Analisa Torres
DATE FILED: 03/14/2018
CLASS PERIOD START: 01/29/2018
CLASS PERIOD END: 02/05/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 18-CV-02268
JUDGE: Hon. Analisa Torres
DATE FILED: 03/23/2018
CLASS PERIOD START: 01/29/2018
CLASS PERIOD END: 02/05/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date