Legal battle over U.S. ‘volatility’ product expands to second company

NEW YORK (Reuters) – The legal fight over a complex Credit Suisse (SIX:) financial instrument betting on stock market swings is expanding, with a new lawsuit targeting one of the product’s service providers.

An investor on Thursday sued the bank and a unit of Janus Henderson Group PLC over their VelocityShares Daily Inverse Short-Term Exchange-Traded Note, which lost most of its value after the U.S. stock market closed one day last month.

Both companies have denied wrongdoing.

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