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Credit Suisse shareholders: A lawsuit under Art. 105 FusG has been launched

Updated: Jul 30, 2023

Due to the large number of enquiries, the "Swiss Association for the Protection of Investors" (Schweizerische Anlegerschutzverein, SASV) has decided to coordinate a lawsuit pursuant to Art. 105 of the Merger Act.

The large number of enquiries from Credit Suisse shareholders regarding legal options in the context of the takeover of Credit Suisse by UBS has prompted the "Schweizerische Anlegerschutzverein (SASV)" ("Swiss Association for the Protection of Investors") to coordinate and - together with our consultant Dr. iur Tobias Aggteleky - file a lawsuit pursuant to Art. 105 of the Swiss Merger Act.

Based on the Swiss Merger Act, a review of the exchange ratio will be requested in order to possibly obtain appropriate compensation. The aim is to obtain a cash compensation payment for the shareholders of Credit Suisse corresponding to the value between the share price determined by the merger agreement and the share price determined by the court. The market capitalisation of Credit Suisse at the close of trading on the last trading day prior to the takeover by UBS was CHF 7 bn. On 19 March 2023, the takeover price was announced as only CHF 3 bn.

To participate, interested shareholders must have held Credit Suisse shares on 19 March 2023, i.e. the date of the merger decision. The Swiss Merger Act (Art. 105 para. 1 FusG) provides for a two-month period from the publication of the Merger Decision, which took place on 12 June 2023 and was published in the Swiss Official Gazette of Commerce (SOGC) on 14 June 2023. As the deadline for filing a lawsuit is therefore 14 August 2023, interested parties should contact us by 11 August 2023 at the latest.

The costs for the lawsuit will be borne proportionally by the participants, whereby these costs should be relatively low due to the synergy effect. The SASV coordinates this lawsuit. The definitive costs will only be known after the filing deadline on 11 August 2023.

Interested Credit Suisse shareholders can register using here!


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