December 16, 2019
HSBC's U.S. banking arm has reached a tentative deal to settle a Commerzbank AG lawsuit alleging it caused more than $100 million in losses for the German bank by breaching its duties as trustee for an array of precrisis residential mortgage-backed securities trusts, according to a Manhattan federal court filing.
May 23, 2017
HSBC urged a New York federal court Monday to reject a magistrate judge's recommendation to bar the bank from deflecting blame onto its lawyers in a raft of cases alleging HSBC failed to protect investors from toxic mortgage-backed securities, saying it is too early to know whether it will raise the defense.
May 09, 2017
An HSBC Holdings PLC unit facing allegations concerning its oversight of residential mortgage-backed securities trusts cannot defend itself by arguing it relied on its attorneys' advice while refusing to divulge its contents, a New York federal magistrate judge said Monday.