A New York federal court has dismissed a proposed class action lawsuit on behalf of all investors who purchased VelocityShares Daily Inverse VIX exchange traded notes (ZIV ETNs) between 30 June 2017 and 5 February 2018.
United States district judge Valerie Caproni has dismissed claims alleging that Credit Suisse failed to disclose certain risks associated with the ZIV ETNs. According to the ruling, the pricing supplement given to investors in the ETNs adequately warned of the risks associated with the value of the products. The price of the bank’s VelocityShares Daily Inverse VIX notes dropped more than 14% in 2018. The complaint alleged that investors in ZIV ETNs lost millions of dollars and were misl
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