What did the Zurich Commercial Court decide?

The court ordered UBS to provide unredacted internal files to plaintiffs and commissioned an independent going‑concern valuation of Credit Suisse. The case challenges the CHF 3 billion takeover price, with claims totaling about CHF 50 billion. UBS can appeal within 30 days or withhold files for 40 days, at potential evidentiary cost later.

What is a going-concern valuation and why does it matter here?

A going‑concern valuation estimates a company’s worth as a functioning business, not a liquidation. For Credit Suisse, it will assess franchise earnings, client stability, asset quality, and funding at rescue time. If the value materially exceeds CHF 3 billion, claimants gain leverage; if not, UBS’s defense strengthens.

How could this ruling affect UBS shareholders?

It raises legal and disclosure risk. New information from unredacted files and the expert’s report could lead to provisions and weigh on earnings. Capital plans, dividends, or buybacks might be adjusted if liabilities rise. Expect higher volatility as milestones hit, with sentiment driven by document content and valuation findings.

What timeline and catalysts should investors watch next?

Key dates include the 30‑day appeal window and a 40‑day period in which UBS could withhold documents with evidentiary risk. Track interim steps in the expert valuation process and any court updates. Also watch UBS’s disclosures around the 29 April 2026 earnings date for provisioning and litigation guidance.

Global Market Insights

UBS Stock Today: Zurich Court Orders Full CS Files Access — February 18

ByHuzaifa Zahoor February 18, 2026February 18, 2026

Zurich’s Commercial Court raised the stakes in the UBS Credit Suisse takeover 202 dispute. The court ordered UBS to give plaintiffs full, unredacted internal files and to fund an independent going‑concern valuation of Credit Suisse. Claimants challenge the CHF 3 billion takeover price in a CHF 50 billion Swiss investor lawsuit. UBS can appeal within 30 days. It may also withdraw documents within 40 days, but that could weaken its position later. We break down what this means for Swiss investors, disclosure risk, and the stock’s near‑term setup.