Accordingly, Credit Suisse had downplayed the impact of the Company's recent series of quarterly losses and risk and compliance failures on liquidity and its ability to retain client funds, and as a result, Credit Suisse had overstated the Company's financial position and/or prospects. In October 2022, Credit Suisse began experiencing a sharp increase in customer outflows, or withdrawals of client funds, after a series of quarterly losses and risk and compliance failures significantly decreased the Company's American Depositary Share ("ADS") price. On December 1, 2022, Lehmann stated in an interview with Financial Times that customer outflows had not only "completely flattened out," but had, in fact, "partially reversed."