Where Is Our Bonus? Credit Suisse Employees Plan Lawsuit Against Swiss Regulator Over AT1 Bonus Losses Due To UBS Rescue
Portfolio Pulse from Vandana Singh
Credit Suisse employees are preparing to sue Swiss regulator FINMA after losing $400 million in bonuses tied to the bank's AT1 bonds due to the UBS takeover. Law firms Quinn Emanuel and Pallas have received requests from senior managers at Credit Suisse to take legal action on their behalf.
May 22, 2023 | 1:05 pm
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Credit Suisse employees are suing Swiss regulator FINMA over $400 million in lost bonuses tied to AT1 bonds due to the UBS takeover, potentially causing negative sentiment around the company.
The lawsuit against Swiss regulator FINMA by Credit Suisse employees could lead to negative sentiment around the company, as it highlights the impact of the UBS takeover on employees. This may cause investors to question the company's management and decision-making, potentially leading to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100