Peiffer Wolf and Daren A. Luma File Class Action Lawsuit Against Credit Suisse AG
January 22 2022 - 08:00AM
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 vs. Credit Suisse AG, No. 1:22-cv-00115-JPC-DCM.
The lawsuit seeks to represent all persons who initiated a short
position in DGAZ or DGAZF prior to August 3, 2020, and thereafter
purchased DGAZF on the over-the-counter market to cover that
position, in whole or in part.
The complaint alleges that Credit Suisse made untrue statements
of material fact and/or omitted material facts necessary to make
the statements not misleading; and engaged in acts, practices, and
a course of business that operated as a fraud and deceit upon the
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 being
delisted and that Credit Suisse would cease issuance of additional
notes without disclosing that market conditions were such that a
short squeeze was imminent, and that the price of DGAZ would become
completely dislocated from the underlying Index value. The
complaint further alleges that because of Credit Suisse’s actions,
short holders subsequently paid artificially inflated prices on the
OTC Pink market to cover outstanding short positions.
A copy of the complaint is available from the Court; from
attorney Daren A. Luma (dluma@lumalegal.com), or from Peiffer Wolf
attorneys Joe Peiffer (jpeiffer@peifferwolf.com), Jason Kane
(jkane@peifferwolf.com), Dan Centner (dcentner@peifferwolf.com)
and/or Grace Hancock (ghancock@peifferwolf.com).
Not later than 60 days after the date on which this notice is
published, any member of the purported class may move the Court to
serve as lead plaintiff of the purported class. Your ability to
share in any recovery doesn’t require that the Court appoint you as
lead plaintiff.
The Law firms Peiffer Wolf and Daren A. Luma, PLLC concentrate
on representing investors in securities, consumer class actions,
and individual cases around the country. Please visit
https://www.peifferwolf.com and https://www.lumalegal.com for more
information.
Responsible Attorneys, Daren Luma and Dan Centner Attorney
advertising. Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.
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version on businesswire.com: https://www.businesswire.com/news/home/20220122005003/en/
Joe Peiffer (jpeiffer@peifferwolf.com) Dan Centner
(dcentner@peifferwolf.com) Grace Hancock (ghancock@peifferwolf.com)
Peiffer Wolf Carr Kane & Conway LLP 1519 Robert C. Blakes Sr
Dr., 1st Floor New Orleans, LA 70130 Jason Kane
(jkane@peifferwolf.com) 95 Allens Creek Bldg. 1, Suite 150
Rochester, NY 14619 Daren A. Luma, PLLC (dluma@lumalegal.com) 75
South Broadway, Suite 400 White Plains, NY 10601