By Katryna Perera (January 6, 2022, 8:53 PM EST) – Credit Suisse was the subject of a proposed class action lawsuit Thursday for causing substantial losses to retail investors when it “destroyed” a popular exchange-traded note and their sent scrambling to cover short positions at extremely inflated prices.

Plaintiff Adelina Gomez claims that she and hundreds of other investors bought and sold the note, known as DGAZ, during the class action period and suffered pecuniary damages as a result of the actions of the Swiss credit.

According to the lawsuit filed in New York federal court, Gomez initiated 10 short positions in DGAZ in May 2020, shortly before Credit Suisse announced the delisting in June 2020 ….

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