More Credit Suisse bondholders join group appeal against FINMA decision

MORE plaintiffs joined a group appeal against Swiss regulator FINMA over a 16 billion Swiss franc ($18.09 billion) writedown of Credit Suisse AT1 bonds, the law firm representing the group said on Thursday.

Law firm Quinn Emanuel Urquhart & Sullivan now represents over 1,000 bondholders that hold approximately a third of the total notional value of the Credit Suisse AT1 bonds, it said in a statement.

This follows the first claim filed by the firm last month, which it said was the first step in a battle to seek redress for clients whose assets it said had been expropriated during Credit Suisse's takeover by bigger rival UBS. - reuters