TOKYO -- Japanese investors are planning to file lawsuits against Japan-based brokerages including Mitsubishi UFJ Morgan Stanley Securities over their sale of so-called AT1 bonds issued by Credit Suisse, Nikkei Asia has learned, opening a new front in the global legal battle over the investments.
Taiju Yamazaki, a former Bank of America Securities lawyer, said he expected that his first action would be filing a group suit in Tokyo on behalf of Mitsubishi UFJ Morgan Stanley Securities clients seeking to claw back losses on their Credit Suisse additional tier-1 bonds.
