Credit Suisse fined $81 million in the US

According to a law firm in the USA, the Swiss bank Credit Suisse has agreed to pay 81 million dollars after allegations of unfair collusion. In addition, the bank is committed to helping the plaintiffs in the proceedings against other financial institutions accused of the matter, said the law firm Cohen Milstein Sellers & Toll. Several US pension funds had sued Credit Suisse, the US banks Goldman Sachs and JPMorgan and three other institutions. They accuse them of collusion in a certain stock segment. They are said to have boycotted start-up platforms such as AQS or Data Explorer in order to charge investors excessive fees.

Credit Suisse said it believes the plaintiffs’ claims are unfounded but is pleased to settle the dispute.

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