HSBC To Pay Record $1.5B Settlement To End Securities Class Action

(June 17, 2016, 1:32 PM EDT) -- SAN DIEGO — In what is being called a record recovery for shareholders, HSBC Finance Corp. has agreed to pay more than $1.5 billion to settle claims that its predecessor-in-interest, Household International Inc., and certain of its executive officers and directors issued a series of misrepresentations concealing Household’s involvement in a predatory lending scheme in violation of federal securities laws, according to a press release issued by shareholder counsel June 16 (Lawrence E. Jaffe Pension Plan v. Household International, Inc., et al., No. 02-5893, N.D. Ill.)....
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