Peiffer Wolf and Daren A. Luma file class action lawsuit against Credit Suisse AG – CEO Today
NEW YORK–(BUSINESS WIRE)–On January 6, 2022, Peiffer Wolf Carr Kane & Conway, LLP (“Peiffer Wolf”) and Daren A. Luma, PLLC filed a class action lawsuit against Credit Suisse AG (“Credit Suisse”) alleging violations of the Securities Exchange Act of 1934 and 17 CFR § 240.10b-5 promulgated thereunder. The case was filed in the United States District Court for the Southern District of New York and is captioned Gomez v Credit Suisse AG, no. 1:22-cv-00115-JPC-DCM. The lawsuit seeks to represent all individuals who initiated a short position in DGAZ or DGAZF prior to August 3, 2020, and subsequently purchased DGAZF in the OTC market to hedge that position, in whole or in part.
The Complaint alleges that Credit Suisse misrepresented material facts and/or omitted material facts necessary for the statements not to be misleading; and engaged in acts, practices and a course of business which operated as a fraud and deceit on holders of short positions in DGAZ/DGAZF Notes. Specifically, it is alleged that Credit Suisse approved and disseminated a materially false and misleading press release announcing that DGAZ was delisted and that Credit Suisse would cease issuing additional notes without disclosing that market conditions were such that a short squeeze was imminent, and the price of DGAZ would become completely dislocated from the value of the underlying index. The complaint further alleges that due to Credit Suisse’s actions, short holders subsequently paid artificially inflated prices on the OTC Pink market to cover open short positions.
A copy of the complaint is available from the Court; attorney Daren A. Luma ([email protected]), or attorneys for Peiffer Wolf Joe Peiffer ([email protected]), Jason Kane ([email protected]), Dan Centner ([email protected] ) and/or Grace Hancock ([email protected]).
No later than 60 days after the date of publication of this notice, any member of the purported class may apply to the court to serve as the lead plaintiff of the purported class. Your ability to participate in any recovery does not require the court to name you as the lead plaintiff.
The law firms of Peiffer Wolf and Daren A. Luma, PLLC focus on representing investors in securities, consumer class actions and individual cases nationwide. Please visit https://www.peifferwolf.com and https://www.lumalegal.com for more information.
Responsible Lawyers, Daren Luma and Dan Centner
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Joe Peiffer ([email protected])
Dan Centner ([email protected])
Grace Hancock ([email protected])
Peiffer Wolf Carr Kane & Conway LLP
1519 Robert C. Blakes Sr. Dr., 1st Floor
New Orleans, LA 70130
Jason Kane ([email protected])
95 Allens Creek Bldg. 1, office 150
Rochester, NY 14619
Daren A. Luma, PLLC ([email protected])
75 South Broadway, Suite 400
White Plains, NY 10601