Tag Archives: HSBC Unit Judge Orders Judgment On $1.5 Billion In Claims

HSBC Unit Judge Orders Judgment On $1.5 Billion In Claims – 5 October 2013

Bloomberg

By Edvard Pettersson & Andrew Harris

The HSBC Holdings Plc (HSBA) unit once known as Household International Inc. lost its bid to undo a 2009 securities fraud trial verdict and is liable for about $1.5 billion in damages plus interest, a judge ruled.

U.S. District Judge Ronald Guzman in Chicago yesterday denied the lender’s motions for a new trial or a decision in its favor and ordered plaintiffs’ lawyers to submit a proposed final judgment within five days.

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