HSBC $2.46 Billion Judgment May Not Be Total Lawsuit Liability
This article is for subscribers only.
As HSBC Holdings Plc, the biggest European bank by market value, appeals the U.S. jury verdict that produced a $2.46 billion judgment, additional liabilities from the securities fraud case remain unresolved.
The money judgment, rendered Oct. 17 by U.S. District Judge Ronald A. Guzman in Chicago, doesn’t account for more than 25,000 still-pending claims exceeding $650 million, according to a statement issued by trial-winning lawyers Michael Dowd and Spencer Burkholz at San Diego-based Robbins Geller Rudman & Dowd LLP.