IN THE CONTEXT OF BLOCKCHAINS & CRYTO-CURRENCIES ...

[Michael Grove]

... & the movement to establish  WEB3.0 on a network of BLOCK-CHAINS, I can only rejoice in the fact that the original WWW was established around HTTP/S as a direct result of APPLE & NEXT providing Tim Berners Lee with the IDEAL toolkit, and that his latest INRUPT development of a SOLID based solution for WEB 3.0 can [NOW] be regarded in the context of addressing how Solid Pods May End Up Becoming the Building Blocks of the Metaverse.

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[Michael Grove]

US investors in Credit Suisse have recently hit the beleaguered Swiss bank with legal action, claiming that it overstated its prospects before this week’s shares crash. The lender suffered a rapid sell-off with shares plunging as much as 30% on Wednesday after comments from Credit Suisse’s largest shareholder, Saudi National Bank (SNB), which said it was unable to pump in more cash because of regulatory restrictions limiting its holding to below 10%.

The Swiss central bank later stepped in to offer Credit Suisse a £44.5bn lifeline and the shares rallied, recovering some of their losses yesterday. But Rosen Law Firm, a class action lawsuit specialist, has lodged a complaint in a court in Camden, New Jersey which claims the bank made “materially false and misleading statements” in its 2021 annual report.

The lawsuit would represent the first mounted against Credit Suisse since the crisis rapidly devalued shareholders’ investments. Last week Credit Suisse admitted it had “material weaknesses” in its reporting and controls procedures when it published its delayed 2022 annual report. It said this could have resulted in “misstatements” of financial results.

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