It is ‘hard to understand’ why investors are suing Credit Suisse, its CEO says

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It is ‘hard to understand’ why investors are suing Credit Suisse, its CEO says

see url Credit Suisse Chief Executive Officer Tidjane Thiam on Monday said that it’s “hard to understand” why investors are suing the bank over a complex financial product that yielded steep losses for some. Known as the VelocityShares Daily Inverse VIX Short-Term Exchange-Traded Note (ETN), the instrument is designed to go up when stock market volatility goes down.

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