Japanese investors plan to sue MUFG unit over Credit Suisse bonds – Nikkei
2023.06.08 23:49
© Reuters. FILE PHOTO: A man walks past a signboard of Mitsubishi UFJ Financial Group and MUFG Bank at its headquarters in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai
(Reuters) – A group of Japanese investors are planning to file lawsuits against some brokerages based in the country, including Mitsubishi UFJ (NYSE:) Morgan Stanley (NYSE:) Securities, over their sale of AT1 bonds issued by Credit Suisse Group AG, reported on Friday.
Former Bank of America (NYSE:) Securities lawyer Taiju Yamazaki has said he expects his “first action” would be to file a group suit in Tokyo on behalf of MUFG Morgan Stanley Securities clients as they look to recoup losses on their Credit Suisse additional tier-1 bonds, the report said.
Credit Suisse and MUFG did not immediately respond to a Reuters request for comment. Reuters could not immediately contact Taiju Yamazaki.
(This story has been refiled to fix a grammatical error in the headline)
