Claims that the Swiss bank caused retail investors significant losses when it chose to de-list its ETN have been rejected.
The US District Court for the Southern District of New York has dismissed a putative class action under the Securities Exchange Act of 1934 against Credit Suisse for misrepresentation in relation to the delisting of an exchange-traded note (ETN) linked to a natural gas price index. According to the court ruling of 31 March, the investor alleged that Credit Suisse failed to adequately disclose the risk of a short squeeze in which short sellers are forced to sell their positions at a