Former Louisiana Attorney General's Alert to Credit Suisse Shareholders

Kahn Swick & Foti, LLC ("KSF") and its partner, former Louisiana Attorney General Charles C. Foti, have announced that they will hold a class action lawsuit in the securities class action lawsuits filed by Credit Suisse Group AG (NYSE:CS) between March 10, 2022 and March 15, 2023, inclusive (the "Class Period"). Investors, who purchased Credit Suisse Group AG's securities between March 10, 2022 and March 15, 2023, inclusive (the "Class Period"), are reminded that they have until May 8, 2023 to file these applications. There are currently several lawsuits pending in the United States District Court for the District of New Jersey in connection with this matter.

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A Brief Overview of the Lawsuits

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In this case, Credit Suisse has been charged with violating federal securities laws by failing to disclose material information during the Class Period, and certain senior executives have been charged as well.

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It was revealed by the company on February 9, 2023 that it had continued to experience large customer outflows through yearend 2022, contrary to its prior statements. It was also revealed that the Company's financial results for 2022 had been reported. It was reported that the company received outflows of 110.5 billion Swiss francs in the last three months of 2022, a figure which was well above market expectations. After this news broke, shares of Credit Suisse fell by $0.56 per share, or 16.54 %, closing on February 9, 2023, or $3.02 per ADS. Upon hearing this news, the news media sources reported on March 15, 2023 that Saudi National Bank, the most essential backer of the Company, would no longer be buying any more of the Company's shares, citing regulatory concerns. On the news, Credit Suisse's shares fell 13.94% to close at $2.16 per American Depositary share on March 16, 2023.

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It is Calhoun v. Credit Suisse Group AG, et al., case number 23-cv-01291, which was filed on March 14, 2008.

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It was not until a subsequent lawsuit reached its conclusion, Turner v. Credit Suisse Group AG, et al., No. 23-cv-01476, that the class period was expanded.

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A brief description of Kahn Swick & Foti, LLC

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The firm is known as one of the nation's most prominent boutique securities litigation law firms, with partners including former Louisiana Attorney General Charles C. Foti, Jr., who is the former Louisiana Attorney General's principal partner. A variety of clients hire KSF to recover investment losses incurred by publicly traded companies as a result of corporate fraud and malfeasance as a result of corporate fraud. In addition to New York, KSF also has offices in California, Louisiana, and New Jersey.