More investors in Japan are suing Mitsubishi UFJ Financial Group’s brokerage arm, more than a year after Credit Suisse’s riskiest bonds sold to its clients became worthless.
A lawsuit representing 14 plaintiffs was filed in the Tokyo District Court on Friday, seeking to recover losses on so-called “Extra Tier 1 notes” they bought from Mitsubishi UFJ Morgan Stanley Securities. They are seeking a combined ยฅ1.37 billion ($8.5 million) in damages, according to the filing led by the Yamazaki Marunouchi Law Office.
A representative for the securities company, a joint venture between Japan’s largest lender and a major U.S. investment bank, said it could not comment because it had not seen the complaint.
