Investor Alert: Recovery Options for Investors Who Lost Money in Credit Suisse’s XIV Exchange Traded Note (ETN): Part 4

Posted on April 16th, 2018 at 9:04 AM
Investor Alert: Recovery Options for Investors Who Lost Money in  Credit Suisse’s XIV Exchange Traded Note (ETN): Part 4

 

In Part 3, we detailed how, on February 5th, Credit Suisse provided investors with non-updated, incorrect prices of XIV at $24 per share, whereas Credit Suisse knew the true economic value was $4 per share, according to experts.  During the period after 4:15 pm, investors bought 28.8 million shares at an average price of $28.60 – far greater than their true economic value of $4 per share.  Unsuspecting buyers lost $700 million (until they can recover it through litigation).

In this our final part, Part 4, we note that the day afterward, Credit Suisse announced that it would redeem all outstanding shares.  Of course, it did not / will not do so on the $24 price that it represented on February 5th, but instead on what is termed the “Closing Indicative Value” on February 15, 2018.

As a result, investors have been decimated.  Our firm has received several inquiries asking what can be done.  We continue to investigate, and currently believe that investors have recourse to recover their losses based upon the material misrepresentations made by Credit Suisse.  Those investors need not have had accounts with Credit Suisse.  Any investors – and particularly those buyers after 4:15 pm on that fateful day, February 5th – and no matter in which brokerage account they held their XIV shares, should contact our law firm.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston

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Fantastic news!!!!  Your professionalism, support and expertise were greatly appreciated.  You made a difficult situation much more bearable.

Marci M.

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