2023-04-16 12:11:12
The Federal Department of Finance (FDF) has received two complaints from shareholders in recent weeks in connection with the takeover of Credit Suisse. Both wish to bring a liability action against the Confederation.
The DFF confirmed on Sunday the filing of these two complaints, reported by the Sunday newspaper, without giving additional information on the proceedings in progress. He adds that he is not aware of any other complaints, denunciations or appeals. The Confederation is aware, however, that investors are examining complaints in connection with the takeover of Credit Suisse by UBS, specifies the FDF.
Bonds had been declared worthless by the Swiss Financial Market Supervisory Authority (Finma) due to the takeover of Credit Suisse by UBS, authorized by the Federal Council. These were so-called Additional Tier 1 (AT1) bonds worth around 16 billion francs. Holders of these bonds demanded that the Confederation answer for these losses.
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