(Bloomberg) Credit Suisse Group AG was sued by an investor who got burned last month betting against stock-market turmoil, as more people seek to recoup steep losses on VIX exchange-traded products. Rajan Chahal filed the lawsuit Wednesday in federal court in New York against the bank, Chief Executive Officer Tidjane Thiam and David Mathers, finance chief, alleging they failed to disclose the company was manipulating its VelocityShares Daily Inverse VIX Short-Term exchange-traded notes, known by the trading symbol XIV. Chahal’s complaint seeks class-action status on behalf of other buyers.
Credit Suisse Sued by Investor Over Crashed Volatility Note
This entry was posted in Syndicated. Bookmark the permalink.
