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Credit score Suisse’s U.S. brokerage recordsdata lawsuit over knowledge leak By Reuters 



© Reuters. FILE PHOTO: The emblem of Swiss financial institution Credit score Suisse is seen in Bern

(Reuters) – The U.S. brokerage subsidiary of Credit score Suisse (SIX:) Group AG has disclosed that former workers’ private knowledge was leaked final month and that it had filed a lawsuit over the matter, within the newest snafu for the Swiss banking big.

Credit score Suisse Securities has sued 10 people for sending non-public details about former workers to media retailers, regulation enforcement and former workers by way of a March 20, 2021 electronic mail, based on a authorized submitting on Thursday.

The information was despatched from a pretend Gmail account within the title of Thomas Gottstein, the chief govt officer of the Swiss financial institution, the lawsuit stated. It included the previous workers’ addresses, social safety numbers and checking account particulars, amongst others. It didn’t disclose what number of former workers had been affected by the leaked knowledge.

The lawsuit, which was filed in a federal courtroom in San Francisco, additionally accused the unnamed people of threatening to reveal different confidential knowledge.

The brokerage stated its investigation thus far has decided that the defendants could also be a number of former workers “however there may be not but ample info to conclusively hyperlink the E mail to any particular particular person or group of people.”

It’s in search of unspecified damages and to bar the people from acquiring or disseminating any extra info from Credit score Suisse’s system, based on the submitting.

Credit score Suisse Group introduced earlier this week that it could take a $4.76 billion hit from its dealings with Archegos Capital Administration, prompting it to overtake the management of its funding financial institution and threat divisions.

Archegos went into meltdown this month after its leveraged bets on sure media firm shares soured, inflicting billions of {dollars} of losses for the household workplace and the banks that financed its trades.

The Swiss financial institution can be reeling from the collapse of its consumer Greensill Capital.

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