LOS ANGELES, March 23, 2023 (GLOBE NEWSWIRE) —

Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come May 8, 2023 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors who have purchased or otherwise acquired Credit Suisse Group AG (“Credit Suisse” or the “Company”) CS securities between March 10th2022 and March, 20th, 2023inclusive (the “Class Period”).

If you have suffered a loss on your investments with Credit Suisse or would like to inquire about possible claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/Credit-Suisse-Group-AG-2/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at shareholders@glancylaw.com to learn more about your rights.

On February 9, 2023, Credit Suisse released its financial results for 2022 and reported client outflows of 110.5 billion Swiss francs in the last three months of 2022. As a result of this news, Credit Suisse ADS price fell by 0.56 USD or 15 .6% and closed at $3.02 per unit ADS on February 9, 2023.

Then, on February 21, 2023, Reuters reported that Credit Suisse chairman Axel Lehmann was facing an investigation into comments made during an interview in early December in which he claimed that client outflows had “essentially stopped”.

As a result of this news, Credit Suisse ADS price fell $0.10 or 3.3% to close at $2.92 per ADS on February 21, 2023, hurting investors.

On March 14, 2023, the company filed its 2022 annual report, revealing that it had identified significant weaknesses in the company’s internal controls for financial reporting, which led to the restatement of previously released financial statements for 2021 and 2020.

on March 15, 2023, Reuters reported that the Saudi National Bank will no longer buy shares in Credit Suisse for regulatory reasons. As a result of this news, the Credit Suisse share price fell $0.35, or 13.9%, to close at $2.16 per ADS on March 15, 2023.

Then,…