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Michigan pension fund files securities litigation against bank

Hubbard Snitchler & Parzianello

In Michigan, groups who trust their future in retirement systems and pension funds are doing so in the hopes that their contributions will be protected. Part of the role of many of these funds is to invest wisely and grow in value. Overseers of these funds will use trusted financial entities to further their goals. It can come as a shock when there is perceived wrongdoing and legal violations are alleged to have taken place. If there is fraud, conflict of interest, recommendations that were not suitable for the client goals, trades made without authorization or outright negligence, having professional advice can be essential.

Credit Suisse accused of financial misdeeds with pension fund’s investments

A Michigan-based pension fund claims that Credit Suisse broke securities laws with its investments. According to the lawsuit, Credit Suisse hid issues with its risk policies and how it handled oversight. There was alleged vulnerability to billions of dollars being lost. Because of its misleading behavior, higher-risk clients were taking on significant leverage – essentially gambling – with the pension fund’s money. The Swiss bank was facing major changes to its policies and the possibility of compensating companies that suffered loss because of its penchant for risk and lack of proper protection for investors.

Trusting others with investments can be risky

People who pay into pension funds do so with the expectation that they are preparing for the future with a relatively safe outcome in mind. Investment entities, whether as a group or by rogue individuals, can make risky attempts to maximize the return and do so by placing the initial investment in danger. Whether it is an individual, a group or a business that believes it has been subjected to fraudulent and illegal behaviors with its investments, it is imperative to have legal guidance.

Groups and individuals should consider their legal options

Pursuing securities litigation can be complex, but it is necessary to recover what was lost. Victims are often people who are unfamiliar with intricate financial dealings, but anyone can be victimized. Consulting with professionals who are experienced in these cases can help to uncover what occurred and recover compensation for all that was lost.

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