Credit Suisse investors sue, claim losses of $17.3 billion

LONDON, England: A group of Credit Suisse investors, claiming billions of dollars in losses during the recent UBS takeover, have sued Swiss financial regulators.

In court, the investors have challenged an order by the Swiss Financial Market Supervisory Authority, or FINMA, that saw the erasure of $17.3 billion in higher-risk Credit Suisse bonds when UBS assumed ownership of the troubled Credit Suisse bank.