|Credit Suisse Sued by China Green Chief Over Alleged Negligence
||Credit Suisse Group AG was sued by Li Tao, chairman of New York-listed China Green Agriculture Inc., who claims the bank was negligent and made unauthorized trades on his behalf.
The case is Li Tao v Credit Suisse AG.
Credit Suisse doesn’t comment on ongoing litigation, Edna Lam, a spokeswoman for the bank, said in an e-mail.
Credit Suisse traded accumulators tied to a Hong Kong-listed company without his permission, Li claimed.
Li orally approved the trades he claims were unauthorized and failed to dispute them until more than a year later, according to papers filed by Credit Suisse.