HSBC to Settle 14-Yr Old Mortgage-Related Lawsuit


HSBC Holdings Plc agreed to settle a massive 14-year old shareholder lawsuit, coughing up US$ 1.575 billion; it is the largest ever recovery following a securities fraud class action trial. Robbins Geller Rudman & Dowd LLP was the lead counsel for the plaintiffs. The settlement is subject to court approval.

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