Credit Suisse investors sue UBS saying the purchase price is too low

UBS, May 30 (FAP)-- an investor sued UBS for paying less than Credit Suisse's value in a government-brokered deal in March and demanded compensation. UBS offered Credit Suisse shareholders just SFr0.76 a share, which closed at SFr1.86 on March 17, the last trading day before the deal. Dimitri Santoro, a lawyer, wrote on behalf of his client that offering shareholders a price lower than the share price at the time violated all takeover practices and ignored the overall value of Credit Suisse. "in an acquisition, shares usually receive a high premium," the complaint reads.