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Cravath represented the managers in connection with the CHF 2.2 billion rights offering of shares of Credit Suisse Group AG in Switzerland. Credit Suisse Group AG is a global financial services company. The shares were listed on the SIX Swiss Exchange. The transaction closed on December 9, 2022.
The Cravath team included partners Nicholas A. Dorsey and Douglas Dolan, associates Katharine E. Waldman and Christopher G. Doherty and foreign associate attorney Carlos Mercadal on capital markets matters; partner Andrew T. Davis and associates Duncan H. Hardell and Christopher M. Winters on tax matters; and partners Eric W. Hilfers and Amanda Hines Gold and associate Bianca Hsing on executive compensation and benefits matters.
Deals & Cases
February 01, 2023
Cravath represented the underwriters in connection with the registered offering of $3.75 billion of senior notes of Credit Suisse AG, a wholly owned subsidiary of Credit Suisse Group, a global financial services company. The transaction closed on January 9, 2023.
Deals & Cases
September 13, 2022
Cravath represented the underwriters in connection with the registered offering of $2.5 billion of senior notes of Credit Suisse AG, a wholly owned subsidiary of Credit Suisse Group, a global financial services company. The transaction closed on August 23, 2022.
Deals & Cases
June 24, 2022
On June 24, 2022, Credit Suisse Asset Management (“CSAM”) announced it has reached an agreement with Bluestone Resources (“Bluestone”) that maps out a plan for the payment of cash to noteholders, including the Supply Chain Finance (“SCF”) funds, which can then be distributed to investors in those funds.
Deals & Cases
July 28, 2010
On July 27, 2010, the United States District Court for the Southern District of New York granted a motion for judgment on the pleadings in favor of Cravath client Credit Suisse Group and its senior officers, dismissing the Section 10(b) securities fraud claims of all U.S. plaintiffs who purchased Credit Suisse common stock on the Swiss Stock Exchange. This is one of the first decisions to implement the Supreme Court’s recent ruling in Morrison v. National Australia Bank, which ruled that investors could not invoke the widely used federal securities law Section 10(b) and Rule 10b-5 after they buy and sell shares of foreign companies on non-U.S. exchanges. Plaintiffs argued that Morrison should be limited to foreign purchasers, but Cravath successfully argued that the bright-line test announced in Morrison also applied to U.S. purchasers who purchased securities listed on a foreign exchange.
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