The Second Circuit Court of Appeals of the US has dismissed a class action lawsuit brought by retail investors over the delisting of a Credit Suisse exchange-traded note (ETN).
In a landmark decision, which gives a significant victory to Credit Suisse, the US Second Circuit Court of Appeals dismissed a class action lawsuit against the bank on 10 February 2024 on the basis that the bank provided ‘adequate warnings about the associated risks’ of the ETN. The legal challenge brough by investors claimed that when the ETN was delisted, it triggered significant financial losses for numerous holders The lawsuit, brought by a group of retail investors, claimed
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