A lawsuit has been filed against Mitsubishi UFJ Morgan Stanley Securities by Tokyo-based Yamazaki Marunouchi Law Office, with proceedings lodged at the Tokyo District Court. This legal action represents 66 Credit Suisse Additional Tier 1 (AT1) bond investors, who are claiming approximately $36 million in compensation. Details regarding the case have been obtained from Law.com International.
As per Taiju Yamazaki, Founding Partner of Yamazaki Marunouchi Law Office, the Credit Suisse AT1 bonds were allegedly not suitable for general investors, a concern that has supposedly been longstanding and recognized by both Credit Suisse and European supervisory authorities.