According to a statement issued on Tuesday, the Federal Supreme Court rejected the claim during a public hearing on October 7.

The plaintiff argued that emergency measures imposed by the Federal Council in March 2023 — which enabled UBS to acquire Credit Suisse — caused a loss in the value of his shares.

Between 2014 and 2022, he had invested 149,900 francs in Credit Suisse stock. Following the takeover, his 12,000 CS shares were converted into 533 UBS shares.

In 2024, he filed a state liability claim with the Federal Council for 140,783 francs, which was denied in April 2024. The shareholder then brought his case before the Federal Supreme Court, seeking the same amount in compensation from the Swiss Confederation.

The plaintiff argued that the emergency measures imposed by the Federal Council in connection with UBS’s takeover of Credit Suisse effectively amounted to the expropriation of his 12,000 CS shares. He claimed that when the emergency ordinance was enacted in March 2023, the Federal Council acted unlawfully, violating the principles of the rule of law, the prohibition of arbitrariness, the guarantee of property rights, and the prohibition of disproportionate restrictions on fundamental rights enshrined in the Swiss Constitution.

He further accused the Federal Council of breaching its official duties by failing to take action as early as autumn 2022. Moreover, he maintained that the emergency-approved takeover of Credit Suisse was contrary to the public interest and resulted in the expropriation of shareholders without fair compensation.

The judgment was delivered orally; a written ruling will be published at a later date, the court said.