Pimco Weighs Joining Investors Suing Over Credit Suisse AT1s (1)

Pacific Investment Management Co. is considering joining hundreds of investors in challenging the Swiss regulator’s decision to wipe out about $17 billion of Credit Suisse Group AG bonds following the bank’s takeover by UBS Group AG.

Pimco, which filed a suit against Finma in order to meet an early May deadline for such submissions, has not yet joined any of the bondholder groups, according to a person familiar with the situation.

The firm is weighing whether to potentially pursue legal action to recoup some of its $800 million of Credit Suisse’s so-called Additional Tier 1 bonds, according to people familiar ...