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A couple's claim for over CHF 54,000 against the Confederation following their investment in Credit Suisse shares was dismissed by the Federal Court. They argued that they relied on reassurances from the Federal Council about the bank's stability before its bankruptcy and subsequent takeover by UBS. The court ruled that investors must assume market risks, and no illegal act by the state was established.
The top Swiss court has ruled against two former shareholders of Credit Suisse who filed a claim regarding their investments. This decision marks a significant legal setback for the plaintiffs in their pursuit of compensation related to the bank's financial issues.
A couple who purchased 38,000 shares of Credit Suisse shortly before UBS's takeover will not receive compensation, as the Federal Court dismissed their claim against the federal government. They invested 84,636 francs but sold the shares for only 30,187 francs after the announcement. The court ruled that investors must bear market risks and that no illegal actions by state agents were proven.
UBS has upgraded Zalando to a 'Buy' rating, indicating a positive outlook for the company. However, the information provided is for informational purposes only and does not constitute a recommendation to buy or sell securities. Investors are advised to seek expert investment advice tailored to their individual needs, as there are inherent risks involved in purchasing securities.
The Federal Supreme Court has ruled against a married couple seeking CHF 56,000 in damages from the Swiss Confederation after they were misled by the Federal Council regarding Credit Suisse's stability. The couple purchased 38,000 shares shortly before the bank's collapse, relying on assurances of its strong capital position. Following the UBS takeover announcement, they sold their shares at a significant loss, but the court found no liability on the part of the Confederation.
The Swiss Federal Supreme Court has dismissed a compensation claim from a couple who lost money on their Credit Suisse shares after the bank's takeover by UBS. The plaintiffs argued that misleading statements from officials contributed to their investment decision, but the court ruled that investors must assume market risks and found no illegal actions by the state. They had purchased 38,000 shares for CHF 84,636 and sold them for CHF 30,187 following the takeover announcement.
The Federal Department of Finance is appealing to the Federal Supreme Court against a ruling that deemed the reduction or elimination of bonuses for former Credit Suisse executives unlawful. This follows the Swiss Confederation's loans to the bank in March 2023 to ensure liquidity, affecting around 1,000 individuals. The FDF argues that the Federal Administrative Court overlooked critical factors, particularly the exceptional circumstances surrounding Credit Suisse's takeover.
The 2nd Court of Public Law dismissed a complaint from a couple seeking CHF 54,601 in compensation for losses on their Credit Suisse shares. They purchased 38,000 shares for CHF 84,636 after assurances of the bank's stability, only to sell them for CHF 30,187 following UBS's takeover announcement. The couple claims the Swiss Confederation is responsible for their financial loss.
A federal court has dismissed a complaint from a couple seeking CHF 54,601 in compensation for losses incurred after purchasing 38,000 shares in Credit Suisse shortly before its takeover by UBS. The couple argued they relied on reassurances from the Federal Council about the bank's stability prior to their investment. Following the takeover announcement, they sold their shares for CHF 30,187, attributing their losses to the Swiss Confederation's statements.
The Swiss government plans to appeal a court ruling that deemed the reduction or cancellation of bonuses for former Credit Suisse executives illegal. Following Credit Suisse's bankruptcy in March 2023 and its acquisition by UBS, the Federal Department of Finance had ordered the bonus cuts, which the Federal Administrative Court later ruled unlawful. The government argues that the court did not adequately consider the exceptional circumstances surrounding the bank's takeover.
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