HSBC SHAREHOLDER CLASS ACTION IN RELATION TO ALLEGED HSBC COMPLIANCE FAILURES

Investigation Counsel P.C. wishes to announce the commencement of a HSBC shareholder lawsuit against HSBC Holdings plc and David Bagley, HSBC’s former global head of compliance. This HSBC shareholder lawsuit seeks to recover investment losses on behalf of HSBC shareholders.

HSBC SHAREHOLDERS RESIDING IN CANADA AND ABROAD

The action has been brought in Ontario, Canada on behalf of all current or former HSBC shareholders, including Canadian residents, who bought HSBC shares and/or HSBC American Depositary Receipts (HSBC ADRs) between July 31, 2006 and July 11, 2012.

ALLEGED HSBC CORPORATE GOVERNANCE AND AML COMPLIANCE FAILURES

The HSBC shareholder lawsuit alleges that HSBC made misrepresentations to HSBC shareholders in relation to money laundering, terrorist financing legislation, and LIBOR manipulation.  HSBC allegedly never disclosed its anti money laundering compliance failures and misled HSBC shareholders by touting its commitment to HSBC corporate governance, business ethics, strong anti money laundering compliance systems and controls designed to prevent anti money laundering compliance failures.

ALLEGED HSBC SHAREHOLDER INVESTMENT LOSSES DUE TO HSBC AML COMPLIANCE FAILURES

It is alleged in the HSBC shareholder lawsuit that HSBC directors and officers responsible for HSBC corporate governance knew about HSBC’s compliance failures including anti money laundering and anti terrorist financing compliance failures.  When the truth about these matters was revealed in July 2012 about HSBC’s AML compliance failures, HSBC shareholders suffered substantial investment losses on their HSBC shares.

We encourage current or former HSBC shareholders who bought HSBC shares and/or HSBC ADRs during the relevant period and who suffered investment losses to contact us through the form below or  by  phone: 416 637 3152  email: jarchibald@investigationcounsel.com


 *This Is Not A Claim Form You are not obligated to fill in this form and, if you choose to do so, you are not retaining Investigation Counsel P.C. to act on your behalf.  Your personal information will not be disclosed to a third party without your consent or unless it is required by law.

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