Credit Suisse investors sue after facing billions in losses

A group of Credit Suisse investors has sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left it with billions in losses (PA)

A group of Credit Suisse investors has sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left it with billions in losses.

The investors are contesting an order by the Swiss Financial Market Supervisory Authority (Finma) that wiped out about 16 billion Swiss francs (about £13.9 billion) in higher-risk Credit Suisse bonds as part of an emergency rescue last month, lawyers said on Friday.