06:22 AM EST, 12/10/2024 (MT Newswires) -- AllianceBernstein ( AB ) will be part of a lawsuit against the Swiss government for writing down $17 billion of Credit Suisse's debt when it orchestrated the rescue merger of the embattled bank with rival UBS (UBS) last year, the Financial Times reported Tuesday, citing people familiar with the matter.

The US asset manager is expected to be added as a plaintiff in a case filed by law firm Quinn Emanuel Urquhart & Sullivan on behalf of holders of Credit Suisse's AT1 bonds, the report said.

AllianceBernstein ( AB ) may seek $225 million in damages, bringing the total value of the lawsuit to $375 million, the report added.

AllianceBernstein ( AB ) and Quinn Emanuel did not immediately respond to MT Newswires' requests for comment.

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