Credit Suisse AT1 Bond Claims Thrown Out by New York Court (2)

A group of investors in Credit Suisse Group AG bonds that got wiped out when UBS Group AG rescued the bank in a Swiss government-brokered deal have had their lawsuit thrown out by a New York court.

A federal court in the financial capital dismissed the claim in a Sept. 30 filing. The group was seeking $370 million in damages, according to the Swiss government, which didn’t name the bondholders.

“Switzerland’s first argument for dismissal is that it is immune from suit under the Foreign Sovereign Immunities Act,” Judge Dale Ho ruled. “The court agrees.”

Judge Ho’s ruling hinges on ...