Credit Suisse AG staff are making preparations to sue the Swiss financial regulator over $400 million of bonuses that were cancelled following the bank's rescue by UBS, a report said on Monday.
The report released on Wednesday found Credit Suisse had “violated key terms of its plea agreement,” in particular by not informing the DOJ when it moved close to $100 million from a previously undisclosed account belonging to a single US-Latin American family to other Swiss banks
Even before Credit Suisse Group AG’s government-brokered takeover, the Swiss lender was in the process of cutting 9,000 jobs in an effort to save itself.