Japanese investors plan to sue MUFG unit over Credit Suisse bonds - Nikkei
Reuters
Published Jun 08, 2023 11:34PM ET
(Reuters) - A group of Japanese investors are planning to file lawsuits against some brokerages based in the country, including Mitsubishi UFJ (NYSE:MUFG) Morgan Stanley (NYSE:MS) Securities, over their sale of AT1 bonds issued by Credit Suisse Group AG, Nikkei reported on Friday.
Former Bank of America (NYSE:BAC) Securities lawyer Taiju Yamazaki has said he expects his "first action" would be to file a group suit in Tokyo on behalf of MUFG Morgan Stanley Securities clients as they look to recoup losses on their Credit Suisse additional tier-1 bonds, the report said.
Credit Suisse and MUFG did not immediately respond to a Reuters request for comment. Reuters could not immediately contact Taiju Yamazaki.
(This story has been refiled to fix a grammatical error in the headline)
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