Deals
Lehman, HSBC Face New York Lawsuit by H.K. Investors
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Lehman Brothers Holdings Inc. and HSBC Holdings Plc may be sued over $1.6 billion in worthless securities sold to retail investors in Hong Kong, a judge in New York ruled yesterday.
U.S. District Judge William H. Pauley III reversed part of a decision by Lehman’s bankruptcy judge, who threw out a suit by seven holders of structured financial notes called minibonds. The plaintiffs seek to represent a class of investors in the notes from June 16, 2003, to Sept. 15, 2008, Pauley said in his decision.