Media release July 6, 2023

Communiqué de presse du 6 juillet 2023

LegalPass reaches the funding threshold to launch its legal action on behalf of Credit Suisse shareholders

Lausanne, 6 July 2023 – Following LegalPass’s launch of the first Swiss class action on behalf of Credit Suisse shareholders on 15 June 2023, the legal start-up has announced today that it has reached the funding threshold for its Credit US action.

Reaching this significant milestone will enable the legal action to be prepared and filed; it will be conducted by Maître Andreas Hauenstein of the Zurich law firm Baumgartner Mächler. The objective of enabling Credit Suisse shareholders to join forces in a legal action and defend their rights at an affordable price is now becoming a reality. Participation in the Credit US action will remain open until 20 July 2023.

Three weeks after announcing the launch of the Credit US class action, Philippe Grivat and Alexandre Osti, attorneys-at-law and founders of the legal start-up LegalPass, are about to make the first Swiss class action on behalf of Credit Suisse shareholders a reality. This project, the first of its kind in Switzerland, has involved months of work and hundreds of phone calls. To date, more than 350 participants have already joined the Credit US action. The very first class action in Switzerland for Credit Suisse shareholders will now be able to go ahead.

“We are facing an incredible wave of enthusiasm. We are really touched by the many messages of thanks from shareholders, who at last have a solution to make their voices heard, and we’re also quite proud to see our action take shape,” said Philippe Grivat, co-founder of LegalPass.

Alexandre Osti, co-founder of LegalPass, added: “Credit Suisse shareholders were not heard at the Annual General Meeting, but we will give them a voice in court.”

All shareholders are able to join the Credit US action via the platform until 20 July 2023.

Additional information
Philippe Grivat
LegalPass SA
Co-founder – Attorney-at-law

Alexandre Osti
LegalPass SA
Co-founder – Attorney-at-law

About LegalPass SA
Established in 2022 by two attorneys-at-law, Philippe Grivat and Alexandre Osti, LegalPass is a Swiss start-up whose mission is to make the law affordable for everyone. LegalPass usually focuses on the areas of law that particularly affect the general public.

For the time being, it deals in particular with debt collection and road-traffic law, but its aim in the future is to cover all the most common areas of law.

With its virtual assistant, LegalPass assists SMEs and private individuals with solving their legal problems by helping them to create their legal documents or find a suitable lawyer at a reduced fee. With the Credit US legal action, LegalPass intends to make the law affordable by enabling thousands of small Credit Suisse shareholders to collectively make their voice heard at an affordable cost.

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