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Credit Suisse Group AG

Company NameCredit Suisse Group AG
Stock SymbolCS
Status1

On November 5, 2017, The Wall Street Journal reported that the U.S. Department of Justice and the Federal Bureau of Investigation are investigating Credit Suisse, along with other banks, “for their roles in selling about $2 billion of debt for Mozambique.” The article stated, in part, that “[f]inancial regulators in the U.S., the U.K. and Switzerland began probes into potential securities-law violations by the banks last year, after The Wall Street Journal reported the existence of irregularities in the Mozambican transactions.” The Wall Street Journal also reported that “[t]he newer U.S. inquiries widen the scope of the probes to include potential corruption and raise the possibility of criminal prosecution.” 

On this news, Credit Suisse’s American Depositary Share price fell, thereby injuring investors.

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