A lawsuit was filed on behalf of investors in Credit Suisse Group AG’s VelocityShares Daily Inverse VIX Short Term ETNs (NASDAQGM: XIV) shares over alleged securities laws violations. Deadline: May 14, 2018. NASDAQGM: XIV investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/28/2018 -- An investor, who purchased shares of Credit Suisse Group AG's VelocityShares Daily Inverse VIX Short Term ETNs (NASDAQGM: XIV), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Credit Suisse Group in connection with certain allegedly false and misleading statements made between January 29, 2018 and February 5, 2018.
Investors who purchased a shares of Credit Suisse Group AG's VelocityShares Daily Inverse VIX Short Term ETNs (NASDAQGM: XIV), have certain options and for certain investors are short and strict deadlines running. Deadline: May 14, 2018. NASDAQGM: XIV investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Credit Suisse Group AG's VelocityShares Daily Inverse VIX Short Term ETNs (NASDAQGM: XIV) common shares between January 29, 2018 and February 5, 2018, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that that Credit Suisse was actively manipulating the Inverse VIX Short ETNs by liquidating its holdings in various financial products to avoid a loss, that Credit Suisse was manipulating the Inverse VIX Short ETNs to the detriment of investors, and that as a result of the foregoing, Defendants' statements about Credit Suisse's Inverse VIX Short ETNs were false and misleading and/or lacked a reasonable basis.
Shares of Credit Suisse AG - VelocityShares Daily Inverse VIX Short Term ETN (NASDAQ:XIV) rose from $16.68 per share on February 12, 2016 to as high as $146.44 per share on January 11, 2018.
On February 6, 2018, Credit Suisse announced an event acceleration of XIV due to an acceleration event.
Shares of Credit Suisse AG - VelocityShares Daily Inverse VIX Short Term ETN (NASDAQ:XIV) declined to as low as $5.10 per share on February 8, 2018.
Those who purchased shares of Credit Suisse Group AG's VelocityShares Daily Inverse VIX Short Term ETNs (NASDAQGM: XIV) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com