HSBC Hit With £1.3B Suit By Investors Over Film Scheme

Law360, London (June 22, 2020, 3:18 PM BST) -- More than 300 investors have signed up to a £1.3 billion ($1.6 billion) group action lawsuit in London against the private banking arm of HSBC over the lender's alleged role in marketing Disney film financing schemes.

The investors have accused HSBC of conspiring to persuade them buy the film rights to blockbusters including the second and third "Pirates of the Caribbean" films. (AP) The investments to raise money to finance blockbuster movies have been described as tax avoidance by the U.K.'s tax authority.

Law firm Edwin Coe LLP announced Monday it has filed a claim on behalf of 371 investors against...

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