Swiss foundation Ethos joins legal case against UBS takeover of Credit Suisse

Seeks cash compensation

Valeria Martinez
clock • 2 min read

A foundation backed by Swiss pension funds has joined a legal case against the takeover of Credit Suisse by UBS, aiming to challenge the exchange ratio of the transaction.

In a statement, the Ethos Foundation said today (4 July) that it had decided to support the Lausanne-based legal start-up LegalPass in its legal action against the exchange ratio set in the context of the bank's acquisition in March.  "Since its announcement on 19 March 2023, the Ethos Foundation has objected to the way in which the acquisition of Credit Suisse by UBS has been carried out, in particular to the fact that shareholders were not invited to exercise their rights in a vote at the Annual General Meeting," the foundation said.  Credit Suisse AT1 bond investors sue Swiss regul...

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