A legal case filed in New York on June 20 took a novel approach to recovering losses on Credit Suisse AT1 bonds held by French asset manager Axiom and German fund Assenagon.
The case seeks to blame former Credit Suisse chief executive Brady Dougan and 17 other veteran managers and directors of the bank for losses on the bonds, which were wiped out by Swiss authorities when the merger with UBS took place on March 19.
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