UBS and Swiss finance blog Inside Paradeplatz have settled a lawsuit relating to comments published on the site about Credit Suisse.
As part of the settlement, Inside Paradeplatz agreed to delete or amend multiple reader comments and delete or adjust passages in two of its posts.
The blog “expressed its regret” at the incident said it will “carefully examine readers’ comments in advance and not allow any personal infringements against the plaintiffs”.
Credit Suisse launched the lawsuit against the blog in December last year, calling for the removal of parts of 52 articles relating to the bank.
The blog is widely read in Swiss financial circles and has faced lawsuits in the past from both UBS and Credit Suisse.
The agreement comes as UBS attempts to settle a range of legacy lawsuits and investigations involving Credit Suisse.
Last month UBS agreed to pay a £388m fine to regulators in the UK, US and Switzerland for failings linked to Credit Suisse’s oversight of Archegos Capital.
Earlier this year Finma found that Credit Suisse had “seriously breached” its supervisory obligations in its relationship with Greensill Capital while in May Credit Suisse was ordered to pay Georgia’s ex-prime minister $926m by a Singapore court.
UBS has set aside a total of $4bn for potential lawsuits relating to the takeover.
Investors will get their first proper glimpse of how UBS’ takeover is progressing when the bank announces its results for the second quarter on Thursday. The results were delayed by a month due to the deal’s complexities.
UBS is expected to record a pretax profit of over $30bn, largely reflecting the difference between the knock-down price Credit Suisse was acquired for in March and the book value of its assets. This is known as ‘negative good will’.
Rather than focusing on the inflated profit figure, investors will be keeping a close eye on the fate of Credit Suisse’s domestic bank while there may be some future guidance on job cuts following the acquisition.
UBS was contacted for comment.