UBS, Swiss finance blog settle Credit Suisse legacy lawsuit
2023.08.29 01:32
© Reuters. FILE PHOTO: The logo of Swiss bank UBS is seen at the company’s office at the Bahnhofstrasse in Zurich in this July 1, 2009, photo. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) – UBS and Inside Paradeplatz have settled a lawsuit initially brought against the popular Zurich based finance blog by Credit Suisse, the publication said on Tuesday.
As part of the settlement, Inside Paradeplatz agreed to delete or amend user comments and three passages from posts. The remaining claims where dropped.
A spokesperson for UBS confirmed that the Swiss bank and blog had settled the case.
Credit Suisse launched a lawsuit against the blog, widely read in Swiss finance circles, in December over user comments left under posts.
It is the second Credit Suisse case that UBS has resolved since taking over its former rival and inheriting its legal battles.
Last month, UBS was ordered to pay $388 million to British and U.S. regulators over Credit Suisse’s dealings with private investment firm Archegos Capital Management.
