A group of Credit Suisse investors have sued Swiss financial regulators after a government-engineered takeover of the struggling bank by rival UBS left them with billions in losses.

The investors are contesting an order by the Swiss Financial Market Supervisory Authority, or FINMA, that wiped out about 16 billion Swiss francs ($17.3 billion) in higher-risk Credit Suisse bonds as part of an emergency rescue last month, lawyers said Friday.

The hastily arranged, $3.25 billion deal prevented the downfall of Switzerland’s second-largest bank after its stock plunged and customers rushed to pull out their money amid fears about long-running troubles at Credit Suisse and upheaval in the global financial system after the collapse of two U.S. banks.

Procter & Gamble Co., the maker of such iconic household products as Crest toothpaste, Tide detergent and Charmin toilet paper, raised its annual sales outlook on Friday, after turning in better-than-expected fiscal third-quarter earnings results as a series of price hikes boosted its performance.

The earnings results offer encouraging signs about the resiliency of the consumer ahead of reports next month from major retailers like Walmart and Target in an increasingly challenging economy. P&G executives told analysts during its earning call on Friday that the U.S. consumer is “holding up well” and its share of private label brands, which tend to be less expensive, is stable at 16%, a good indication that it’s not seeing shoppers materially trade down.

The Cincinnati-based retailer reported fiscal third-quarter profits of $3.4 billion, or $1.37 per share, for the period ended March 31.