![]() On this news, Credit Suisse's stock price fell $1.04, or 53.2%, to close at $0.94 per ADS on March 20, 2022, thereby injuring investors further. ![]() ![]() Then, on March 20, before market hours, Credit Suisse announce a merger agreement with UBS, stating that "UBS will be the surviving entity upon closing of the merger transaction" and that all Credit Suisse shareholders would receive 1 share in UBS per 22.48 shares in Credit Suisse. On this news, Credit Suisse's stock price fell $0.35, or 13.9%, to close at $2.16 per ADS on March 15, 2023. On March 15, 2023, Reuters reported that Saudi National Bank would not buy any more of Credit Suisse's shares on regulatory grounds. On March 14, 2023, the Company filed its 2022 Annual Report, revealing that it had identified material weaknesses in the Company's internal controls over financial reporting which resulted in the revision of previously issued financial statements for 20. ![]()
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