Iorio Altamirano LLP is investigating claims on behalf of investors after Credit Suisse announced it is terminating four supply chain financing funds.

NEW YORK, NEW YORK, UNITED STATES, March 8, 2021 /EINPresswire.com/ -- Iorio Altamirano LLP is investigating Credit Suisse Group AG and Credit Suisse Asset Management over potential claims related to supply chain financing funds it ran with Greensill Capital. On Friday, March 5, 2021, the Swiss bank announced that it would terminate four funds valued at $10 billion, which it suspended on March 1, 2021, over uncertainties with respect to their accurate valuation. The four funds, which rely exclusively on securities created by Greensill Capital, are:

• Credit Suisse (Lux) Supply Chain Finance Fund;
• Credit Suisse Nova (Lux) Supply Chain Finance High Income Fund;
• Credit Suisse Nova (Lux) Supply Chain Investment Grade Fund; and
• Credit Suisse Supply Chain Finance Investment Grade Fund.

The Wall Street Journal has reported on Thursday, March 4, 2021, that Credit Suisse has known since 2019 that the “supply-chain finance funds it ran with Greensill Capital were too reliant on a small group of insurers to protect investors against default and failed to remedy the situation.” The vulnerability was exposed on Monday when the insurers balked at renewing contracts, and Greensill began to collapse.

According to reports from the Wall Street Journal and Financial Times, investors in the funds include insurance companies, pension funds, corporate treasurers, and wealthy families. It is not yet clear what the ultimate losses will be to investors.

Iorio Altamirano LLP is investigating claims on behalf of the investors.

What Investors Can Do: If you or a client were an investor in the Credit Suisse-Greensill funds, contact securities litigation law firm Iorio Altamirano LLP for a free and confidential consultation. To review or discuss your legal rights, email August Iorio at august@ia-law.com or Jorge Altamirano at jorge@ia-law.com. Alternatively, you may reach the firm by phone, toll-free, at (855) 430-4010.

About Iorio Altamirano LLP: Iorio Altamirano LLP is a securities litigation law firm based in New York, NY, with experience representing institutional investors in pursuing claims to recover financial losses arising out of wrongful conduct by brokerage firms.

August Iorio
Iorio Altamirano LLP
+1 855-430-4010
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